Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $51.00

Key Points

• Harmony Biosciences Holdings has received a consensus rating of "Buy" from analysts, with one strong buy, eight buy, and one hold rating.
• Analysts have set an average one-year price target of $51.00, with Deutsche Bank recently increasing their price target to $55.00.
• The company reported a 16.0% year-over-year revenue increase but missed EPS expectations for the last quarter, posting $0.68 versus the consensus estimate of $0.78.

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has earned a consensus rating of "Buy" from the ten analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $51.00.

A number of equities analysts have commented on HRMY shares. Mizuho upped their price objective 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. Truist Financial started coverage on shares of Harmony Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $48.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They set a "neutral" rating and a $33.00 price objective for the company. Wall Street Zen downgraded shares of Harmony Biosciences from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Cantor Fitzgerald upgraded shares of Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th.

Institutional Investors Weigh In On Harmony Biosciences

Hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Harmony Biosciences by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company's stock worth $70,000 after acquiring an additional 299 shares during the last quarter. Aurora Investment Counsel boosted its position in shares of Harmony Biosciences by 0.6% in the first quarter. Aurora Investment Counsel now owns 61,667 shares of the company's stock worth $2,047,000 after acquiring an additional 374 shares during the last quarter. Gallacher Capital Management LLC boosted its position in shares of Harmony Biosciences by 4.3% in the second quarter. Gallacher Capital Management LLC now owns 9,981 shares of the company's stock worth $315,000 after acquiring an additional 413 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in Harmony Biosciences by 12.0% during the second quarter. Ameritas Investment Partners Inc. now owns 4,466 shares of the company's stock worth $141,000 after buying an additional 479 shares during the period. Finally, Rhumbline Advisers grew its stake in Harmony Biosciences by 0.4% during the first quarter. Rhumbline Advisers now owns 109,073 shares of the company's stock worth $3,620,000 after buying an additional 485 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Stock Performance

HRMY stock traded up $1.14 on Friday, hitting $36.61. The company's stock had a trading volume of 272,186 shares, compared to its average volume of 661,778. The firm has a 50 day moving average of $34.15 and a two-hundred day moving average of $33.76. Harmony Biosciences has a 1 year low of $26.47 and a 1 year high of $41.61. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 0.41 and a beta of 0.84. The company has a current ratio of 3.84, a quick ratio of 3.80 and a debt-to-equity ratio of 0.20.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). Harmony Biosciences had a net margin of 23.44% and a return on equity of 26.34%. The business had revenue of $200.49 million during the quarter, compared to analysts' expectations of $204.37 million. During the same quarter last year, the company earned $1.05 EPS. The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. Equities analysts predict that Harmony Biosciences will post 2.43 EPS 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.