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

Key Points

• Harmony Biosciences has a consensus analyst rating of “Moderate Buy” from 10 analysts, with an average 12-month price target of $42.50.
• Recent analyst actions were mixed: Zacks upgraded the stock to strong-buy, while other firms such as Truist and Deutsche Bank kept hold ratings but raised their price targets.
• The stock was down 1.3% and recently traded at $35.32; the company also reported quarterly EPS of $0.55, missing estimates, even though revenue rose 16.6% year over year.

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $42.50.

A number of brokerages have recently weighed in on HRMY. Zacks Research upgraded Harmony Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 13th. Weiss Ratings raised shares of Harmony Biosciences from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 23rd. HC Wainwright reiterated a "buy" rating and issued a $55.00 target price on shares of Harmony Biosciences in a research note on Thursday, July 16th. Truist Financial boosted their target price on shares of Harmony Biosciences from $25.00 to $29.00 and gave the stock a "hold" rating in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Harmony Biosciences from $30.00 to $36.00 and gave the company a "hold" rating in a research note on Tuesday, June 30th.

Harmony Biosciences Stock Down 1.3%

Shares of HRMY stock opened at $35.32 on Friday. Harmony Biosciences has a 1-year low of $25.52 and a 1-year high of $40.87. The stock's fifty day moving average price is $33.95 and its 200 day moving average price is $32.63. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.58 and a quick ratio of 3.56. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 0.33 and a beta of 0.94.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.21). The business had revenue of $215.39 million for the quarter, compared to analyst estimates of $220.84 million. Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The company's quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 earnings per share. On average, research analysts expect that Harmony Biosciences will post 3.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in shares of Harmony Biosciences by 589.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company's stock valued at $28,000 after acquiring an additional 643 shares during the period. Allworth Financial LP lifted its position 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 acquiring an additional 602 shares during the period. Leonteq Securities AG acquired a new stake in Harmony Biosciences during the 4th quarter worth about $30,000. National Bank of Canada FI purchased a new stake in Harmony Biosciences during the 3rd quarter valued at about $40,000. Finally, Clearstead Advisors LLC grew its stake in Harmony Biosciences by 145.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company's stock valued at $44,000 after purchasing an additional 699 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other 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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