Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives Average Rating of "Buy" from Analysts

Key Points

• Harmony Biosciences has received an average rating of "Buy" from ten research firms, with a twelve-month target price of $51.00 for the stock.
• The company's recent quarterly earnings report indicated an earnings per share (EPS) of $0.68, missing the consensus estimate by $0.10, while revenue experienced a 16.0% year-over-year increase.
• Institutional investment in Harmony Biosciences has significantly increased, with a reported 86.23% of shares now owned by hedge funds and other institutional investors.

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has been assigned an average recommendation of "Buy" from the ten research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $51.00.

HRMY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $55.00 price objective (up from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th. Mizuho raised their price objective on Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Cantor Fitzgerald raised Harmony Biosciences to a "strong-buy" rating in a research note on Tuesday, May 13th. The Goldman Sachs Group started coverage on Harmony Biosciences in a research note on Thursday, July 10th. They issued a "neutral" rating and a $33.00 price objective for the company. Finally, Wall Street Zen downgraded Harmony Biosciences from a "buy" rating to a "hold" rating in a report on Saturday, August 9th.

Harmony Biosciences Price Performance

Shares of Harmony Biosciences stock opened at $37.53 on Thursday. The stock has a 50 day moving average of $35.30 and a 200 day moving average of $33.64. Harmony Biosciences has a 12 month low of $26.47 and a 12 month high of $41.61. The firm has a market cap of $2.16 billion, a PE ratio of 12.11, a PEG ratio of 0.43 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 announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.10). Harmony Biosciences had a net margin of 23.44% and a return on equity of 26.34%. The firm had revenue of $200.49 million for the quarter, compared to the consensus estimate of $204.37 million. During the same period in the previous year, the company posted $1.05 earnings per share. Harmony Biosciences's quarterly revenue was up 16.0% on a year-over-year basis. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, research analysts expect that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new position in Harmony Biosciences during the 1st quarter worth $29,000. Brooklyn Investment Group increased its holdings in Harmony Biosciences by 1,031.9% during the 1st quarter. Brooklyn Investment Group now owns 1,064 shares of the company's stock worth $35,000 after purchasing an additional 970 shares during the period. Parkside Financial Bank & Trust increased its holdings in Harmony Biosciences by 4,185.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company's stock worth $37,000 after purchasing an additional 1,130 shares during the period. GF Fund Management CO. LTD. purchased a new position in Harmony Biosciences during the 4th quarter worth $41,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Harmony Biosciences during the 1st quarter worth $57,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.

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