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

Key Points

• Harmony Biosciences Holdings, Inc. has received a consensus recommendation of "Moderate Buy" from ten brokerages, with an average target price of $45.56.
• Recent analyst ratings have varied, with some firms lowering their price targets significantly while others maintained or initiated buy ratings, indicating a mixed outlook for the company.
• Harmony Biosciences reported $0.68 earnings per share for the last quarter, falling short of the consensus estimate, but had a 16.0% year-over-year revenue increase.

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the ten brokerages that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $45.5556.

Several equities research analysts have recently commented on the stock. Truist Financial began coverage on shares of Harmony Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $48.00 price target for the company. HC Wainwright reduced their target price on Harmony Biosciences from $70.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday, September 25th. Wall Street Zen cut Harmony Biosciences from a "buy" rating to a "hold" rating in a research note on Sunday, October 19th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Harmony Biosciences from $54.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday, September 25th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Harmony Biosciences in a report on Tuesday, October 14th.

Institutional Investors Weigh In On Harmony Biosciences

Several large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its position in shares of Harmony Biosciences by 222.9% in the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock valued at $97,000 after purchasing an additional 2,022 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Harmony Biosciences by 52.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,221 shares of the company's stock worth $671,000 after buying an additional 6,915 shares during the period. Principal Financial Group Inc. lifted its stake in Harmony Biosciences by 2.3% in the first quarter. Principal Financial Group Inc. now owns 213,416 shares of the company's stock valued at $7,083,000 after buying an additional 4,753 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Harmony Biosciences by 8.4% in the first quarter. Envestnet Asset Management Inc. now owns 58,329 shares of the company's stock valued at $1,936,000 after buying an additional 4,503 shares during the period. Finally, Moloney Securities Asset Management LLC acquired a new position in shares of Harmony Biosciences in the first quarter valued at approximately $513,000. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Stock Performance

Shares of Harmony Biosciences stock opened at $29.60 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.84 and a quick ratio of 3.80. The firm has a 50 day simple moving average of $31.58 and a 200 day simple moving average of $32.56. Harmony Biosciences has a fifty-two week low of $25.52 and a fifty-two week high of $41.61. The firm has a market cap of $1.70 billion, a P/E ratio of 9.55, a P/E/G ratio of 0.32 and a beta of 0.79.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.10). The firm had revenue of $200.49 million for the quarter, compared to analyst estimates of $204.37 million. Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The firm's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 EPS. Harmony Biosciences has set its FY 2025 guidance at EPS. Sell-side analysts predict that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Harmony Biosciences Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.