Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $52.44 Consensus Target Price from Brokerages

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has been assigned a consensus rating of "Buy" from the nine research firms that are covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $52.33.

HRMY has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $49.00 target price on shares of Harmony Biosciences in a research report on Tuesday. Mizuho increased their price target on Harmony Biosciences from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Tuesday, March 18th. UBS Group reduced their target price on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, HC Wainwright reiterated a "buy" rating and issued a $70.00 target price on shares of Harmony Biosciences in a report on Tuesday, April 8th.

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in HRMY. JPMorgan Chase & Co. grew its stake in Harmony Biosciences by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company's stock valued at $9,217,000 after acquiring an additional 93,622 shares in the last quarter. Swiss National Bank increased its position in shares of Harmony Biosciences by 28.2% during the fourth quarter. Swiss National Bank now owns 78,200 shares of the company's stock worth $2,691,000 after acquiring an additional 17,200 shares during the period. Teacher Retirement System of Texas lifted its stake in Harmony Biosciences by 50.6% in the fourth quarter. Teacher Retirement System of Texas now owns 11,801 shares of the company's stock worth $406,000 after acquiring an additional 3,964 shares during the period. Vanguard Group Inc. boosted its position in Harmony Biosciences by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock valued at $162,883,000 after acquiring an additional 1,262,362 shares in the last quarter. Finally, Barclays PLC boosted its position in Harmony Biosciences by 110.9% during the third quarter. Barclays PLC now owns 76,862 shares of the company's stock valued at $3,074,000 after purchasing an additional 40,416 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Trading Up 4.4 %

Shares of HRMY traded up $1.41 during trading hours on Friday, reaching $33.46. The stock had a trading volume of 1,171,196 shares, compared to its average volume of 584,253. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The company has a market cap of $1.92 billion, a P/E ratio of 15.86, a P/E/G ratio of 0.47 and a beta of 0.82. The firm has a 50-day moving average of $31.31 and a 200 day moving average of $34.02. Harmony Biosciences has a 52 week low of $26.47 and a 52 week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.59 by $0.19. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm 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 firm posted $0.67 earnings per share. The business's quarterly revenue was up 19.5% compared to the same quarter last year. On average, sell-side analysts expect that Harmony Biosciences will post 2.43 earnings per share for the current fiscal 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.