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 ratings firms that are presently covering the company, Marketbeat Ratings reports. Seven 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 brokerages that have issued a report on the stock in the last year is $53.63.

A number of equities analysts recently issued reports on HRMY shares. Mizuho boosted their target price on shares of Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. HC Wainwright restated a "buy" rating and set a $70.00 price objective on shares of Harmony Biosciences in a report on Tuesday, April 8th. UBS Group reduced their target price on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Cantor Fitzgerald upgraded Harmony Biosciences to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Oppenheimer assumed coverage on Harmony Biosciences in a report on Monday, June 2nd. They issued an "outperform" rating and a $61.00 price target for the company.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY traded up $0.13 during trading hours on Friday, hitting $32.06. 545,420 shares of the stock were exchanged, compared to its average volume of 624,583. Harmony Biosciences has a one year low of $26.47 and a one year high of $41.61. The company's 50 day moving average is $32.64 and its 200 day moving average is $33.97. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.67 and a quick ratio of 3.63. The firm has a market capitalization of $1.84 billion, a P/E ratio of 12.24, a P/E/G ratio of 0.47 and a beta of 0.87.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.19. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. The company had revenue of $184.73 million during the quarter, compared to analysts' expectations of $184.26 million. During the same period in the prior year, the company earned $0.67 earnings per share. The business's quarterly revenue was up 19.5% compared to the same quarter last year. On average, research analysts expect that Harmony Biosciences will post 2.43 EPS for the current year.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors have recently bought and sold shares of the business. Financial Management Professionals Inc. acquired a new stake in shares of Harmony Biosciences in the first quarter valued at $29,000. Brooklyn Investment Group grew its stake in shares of Harmony Biosciences by 1,031.9% during the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company's stock valued at $35,000 after purchasing an additional 970 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Harmony Biosciences in the fourth quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd bought a new position in Harmony Biosciences in the 1st quarter worth approximately $57,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Harmony Biosciences by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock worth $80,000 after buying an additional 519 shares in the last quarter. Institutional investors own 86.23% of the company's stock.

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.