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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has been assigned an average recommendation of "Buy" from the eight brokerages that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $53.63.

HRMY has been the topic of several analyst reports. Cantor Fitzgerald upgraded shares of Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. HC Wainwright restated a "buy" rating and issued a $70.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Needham & Company LLC reiterated a "buy" rating and set a $49.00 target price on shares of Harmony Biosciences in a report on Tuesday, May 6th. UBS Group lowered their price target on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, Oppenheimer assumed coverage on Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target on the stock.

Institutional Trading of Harmony Biosciences

Institutional investors have recently modified their holdings of the company. Deep Track Capital LP bought a new position in shares of Harmony Biosciences during the fourth quarter worth about $49,894,000. Vanguard Group Inc. grew its stake in shares of Harmony Biosciences by 36.4% during the 4th 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. Marshall Wace LLP raised its holdings in shares of Harmony Biosciences by 165.2% in the fourth quarter. Marshall Wace LLP now owns 929,744 shares of the company's stock valued at $31,992,000 after purchasing an additional 579,103 shares during the last quarter. New Vernon Capital Holdings II LLC lifted its position in shares of Harmony Biosciences by 3,219.0% in the first quarter. New Vernon Capital Holdings II LLC now owns 488,424 shares of the company's stock worth $16,211,000 after purchasing an additional 473,708 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Harmony Biosciences in the fourth quarter worth $16,118,000. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Trading Down 1.8%

NASDAQ HRMY opened at $31.89 on Friday. Harmony Biosciences has a 12 month low of $26.47 and a 12 month high of $41.61. The stock has a 50-day simple moving average of $32.54 and a 200 day simple moving average of $34.00. The company has a current ratio of 3.67, a quick ratio of 3.63 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.83 billion, a PE ratio of 12.17, a P/E/G ratio of 0.48 and a beta of 0.87.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced 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 company had revenue of $184.73 million during the quarter, compared to analysts' expectations of $184.26 million. Harmony Biosciences had a return on equity of 24.32% and a net margin of 20.53%. Harmony Biosciences's revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 EPS. Research analysts forecast that Harmony Biosciences will post 2.43 EPS for the current year.

About Harmony Biosciences

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.

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