Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts remain neutral on Harmony Biosciences: Ten analysts have issued a consensus “Hold” rating, with five holds, four buys and one sell. The average 12-month price target is $45.50.
• Recent quarterly results exceeded expectations: Harmony reported adjusted EPS of $1.28 versus the $0.96 consensus estimate, while revenue rose 30.3% year over year to $261.28 million.
• Institutional ownership is high: Institutional investors own 86.23% of the company, with several firms—including Amundi and UBS Asset Management—recently increasing their positions. Shares opened at $39.93, near the stock’s 52-week high of $40.87.

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has earned an average recommendation of "Hold" from the ten analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $45.50.

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $39.00 target price on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Truist Financial upped their price target on shares of Harmony Biosciences from $29.00 to $34.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Mizuho raised their price target on shares of Harmony Biosciences from $50.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of Harmony Biosciences from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. Finally, Zacks Research cut shares of Harmony Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th.

Institutional Trading of Harmony Biosciences

Several institutional investors and hedge funds have recently modified their holdings of HRMY. Amundi raised its position in Harmony Biosciences by 115.6% during the 1st quarter. Amundi now owns 39,668 shares of the company's stock valued at $1,229,000 after purchasing an additional 21,266 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Harmony Biosciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company's stock worth $752,000 after buying an additional 984 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Harmony Biosciences during the first quarter valued at $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Harmony Biosciences by 53.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company's stock valued at $3,166,000 after buying an additional 33,058 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of Harmony Biosciences by 9.8% in the second quarter. Cetera Investment Advisers now owns 8,404 shares of the company's stock valued at $266,000 after acquiring an additional 748 shares in the last quarter. Institutional investors own 86.23% of the company's stock.

Harmony Biosciences Trading Up 2.8%

Shares of NASDAQ HRMY opened at $39.93 on Thursday. Harmony Biosciences has a fifty-two week low of $25.52 and a fifty-two week high of $40.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.36 and a beta of 0.96. The business's 50 day moving average price is $36.19 and its 200-day moving average price is $32.71.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.32. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The company had revenue of $261.28 million during the quarter, compared to analysts' expectations of $250.77 million. During the same quarter in the previous year, the business earned $0.92 EPS. Harmony Biosciences's revenue was up 30.3% compared to the same quarter last year. On average, sell-side analysts expect that Harmony Biosciences will post 3.77 earnings per share for the current year.

About Harmony Biosciences

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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