Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Average Rating of "Hold" by Brokerages

Key Points

• Harmony Biosciences has a consensus “Hold” rating from 11 analysts: five rate it a buy, five a hold, and one a sell. The average 12-month price target is $47.11, compared with shares opening at $41.52.
• The company exceeded quarterly expectations, reporting $1.28 in EPS versus the $0.96 consensus and $261.28 million in revenue, up 30.3% year over year.
• An insider sold 28,454 shares for approximately $1.22 million, while institutional investors own a substantial 86.23% of the company’s stock.

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) have been assigned a consensus rating of "Hold" from the eleven analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $47.1111.

A number of research analysts have weighed in on HRMY shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $39.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Harmony Biosciences from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 16th. UBS Group reiterated a "neutral" rating and set a $37.00 price target on shares of Harmony Biosciences in a report on Wednesday, August 5th. Oppenheimer reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, August 4th. Finally, Wolfe Research initiated coverage on shares of Harmony Biosciences in a research report on Wednesday, August 26th. They set an "outperform" rating and a $60.00 target price on the stock.

Harmony Biosciences Price Performance

Shares of HRMY opened at $41.52 on Monday. Harmony Biosciences has a 1 year low of $25.52 and a 1 year high of $43.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.48 and a quick ratio of 3.45. The business's 50 day simple moving average is $38.12 and its 200-day simple moving average is $33.30. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 0.38 and a beta of 0.93.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The firm had revenue of $261.28 million for the quarter, compared to the consensus estimate of $250.77 million. During the same period in the previous year, the firm posted $0.92 EPS. The business's quarterly revenue was up 30.3% on a year-over-year basis. As a group, equities analysts expect that Harmony Biosciences will post 3.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Harmony Biosciences

In related news, insider Kumar Budur sold 28,454 shares of the firm's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $42.96, for a total transaction of $1,222,383.84. Following the sale, the insider owned 13,115 shares of the company's stock, valued at $563,420.40. This trade represents a 68.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Harmony Biosciences

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company's stock valued at $28,000 after purchasing an additional 643 shares during the last quarter. Leonteq Securities AG acquired a new stake in shares of Harmony Biosciences during the 4th quarter valued at about $30,000. Allworth Financial LP increased its position in shares of Harmony Biosciences by 286.7% in the fourth quarter. Allworth Financial LP now owns 812 shares of the company's stock valued at $30,000 after buying an additional 602 shares in the last quarter. Nykredit A S purchased a new stake in Harmony Biosciences in the 2nd quarter worth $33,000. Finally, National Bank of Canada FI acquired a new position in shares of Harmony Biosciences during the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 86.23% of the company's stock.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial-stage pharmaceutical company focused on developing and commercializing therapies for patients with rare neurological disorders. The company was founded in 2017 and is headquartered in Plymouth Meeting, Pennsylvania, with an emphasis on conditions that are often underserved by traditional pharmaceutical research.

Harmony's principal product is WAKIX (pitolisant), a first-in-class histamine H3 receptor antagonist/inverse agonist approved by the U.S.

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