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

Key Points

• Analyst consensus: "Hold" — Twelve analysts rate HRMY an average of Hold (2 sell, 5 hold, 4 buy, 1 strong buy) with a 1‑year average price target of $42.67 and several recent downgrades and price-target cuts.
• Quarterly EPS miss despite revenue growth — Harmony reported $0.38 EPS versus $0.84 expected while revenue rose 21.1% to $243.8M; the stock trades near $29.42 with a market cap of about $1.7B and a PE of ~10.9.

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) have been assigned an average rating of "Hold" from the twelve analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $42.6667.

Several analysts have recently weighed in on HRMY shares. Wall Street Zen lowered shares of Harmony Biosciences from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Needham & Company LLC reduced their target price on Harmony Biosciences from $46.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Bank of America dropped their price target on Harmony Biosciences from $32.00 to $28.00 and set an "underperform" rating for the company in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft downgraded Harmony Biosciences from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research report on Monday, February 23rd. Finally, UBS Group reduced their price objective on Harmony Biosciences from $46.00 to $36.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 25th.

Harmony Biosciences Stock Up 0.7%

Shares of NASDAQ:HRMY opened at $29.42 on Friday. The company's fifty day moving average is $29.81 and its 200-day moving average is $32.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.58 and a current ratio of 3.60. Harmony Biosciences has a 52 week low of $25.52 and a 52 week high of $40.87. The company has a market capitalization of $1.70 billion, a PE ratio of 10.86, a P/E/G ratio of 0.40 and a beta of 0.89.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.46). Harmony Biosciences had a return on equity of 19.86% and a net margin of 18.29%.The firm had revenue of $243.78 million for the quarter, compared to analyst estimates of $240.04 million. During the same quarter last year, the business earned $0.85 EPS. The company's revenue for the quarter was up 21.1% compared to the same quarter last year. Equities research analysts predict that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Sandip Kapadia sold 3,746 shares of the company's stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $37.15, for a total transaction of $139,163.90. Following the transaction, the chief financial officer owned 24,521 shares in the company, valued at $910,955.15. This represents a 13.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 23.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors have recently modified their holdings of HRMY. EverSource Wealth Advisors LLC grew its stake in shares of Harmony Biosciences by 589.9% during the fourth 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 bought a new position in Harmony Biosciences in the 4th quarter worth approximately $30,000. Allworth Financial LP lifted its holdings in Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company's stock worth $30,000 after buying an additional 602 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in Harmony Biosciences by 145.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company's stock worth $44,000 after buying an additional 699 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new position in Harmony Biosciences in the 4th quarter valued at $47,000. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company's mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company's flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.

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