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

Harmony Biosciences logo with Medical background

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) have received a consensus recommendation of "Buy" from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $52.78.

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a "buy" rating and a $55.00 price target on the stock. UBS Group cut their price target on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Needham & Company LLC reiterated a "buy" rating and set a $49.00 price objective on shares of Harmony Biosciences in a report on Tuesday, May 6th. HC Wainwright reiterated a "buy" rating and set a $70.00 price objective on shares of Harmony Biosciences in a report on Tuesday, April 8th. Finally, Mizuho upped their price objective on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday, May 15th.

Check Out Our Latest Stock Report on HRMY

Harmony Biosciences Trading Up 1.0%

HRMY traded up $0.33 during trading on Tuesday, reaching $34.38. 531,767 shares of the stock traded hands, compared to its average volume of 608,730. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $1.97 billion, a PE ratio of 16.29, a P/E/G ratio of 0.47 and a beta of 0.82. The stock's 50-day moving average is $31.54 and its 200 day moving average is $33.98. Harmony Biosciences has a 12 month low of $26.47 and a 12 month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.19. The business had revenue of $184.73 million for the quarter, compared to analysts' expectations of $184.26 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Equities analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current year.

Hedge Funds Weigh In On Harmony Biosciences

Several institutional investors have recently made changes to their positions in the stock. Swiss National Bank increased its position in shares of Harmony Biosciences by 28.2% during the fourth quarter. Swiss National Bank now owns 78,200 shares of the company's stock worth $2,691,000 after acquiring an additional 17,200 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Harmony Biosciences by 50.6% during the fourth quarter. Teacher Retirement System of Texas now owns 11,801 shares of the company's stock worth $406,000 after acquiring an additional 3,964 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Harmony Biosciences by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock worth $162,883,000 after acquiring an additional 1,262,362 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Harmony Biosciences by 21.8% during the fourth quarter. Two Sigma Advisers LP now owns 98,900 shares of the company's stock worth $3,403,000 after acquiring an additional 17,700 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Harmony Biosciences by 110.9% during the third quarter. Barclays PLC now owns 76,862 shares of the company's stock worth $3,074,000 after acquiring an additional 40,416 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Harmony Biosciences Company Profile

(Get Free Report

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.

Further Reading

Analyst Recommendations for Harmony Biosciences (NASDAQ:HRMY)

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