Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $51.33 Consensus Price Target from Brokerages

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has received an average recommendation of "Buy" from the nine brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $51.33.

HRMY has been the subject of several research analyst reports. HC Wainwright reissued a "buy" rating and set a $70.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, April 8th. UBS Group dropped their price objective on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Mizuho lifted 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. The Goldman Sachs Group raised Harmony Biosciences to a "hold" rating and set a $33.00 price target for the company in a research note on Thursday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $55.00 price target (up previously from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Financial Management Professionals Inc. purchased a new position in Harmony Biosciences during the 1st quarter valued at about $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 valued at $35,000 after purchasing an additional 970 shares during the period. GF Fund Management CO. LTD. purchased a new position in Harmony Biosciences during the 4th quarter valued at about $41,000. Caitong International Asset Management Co. Ltd purchased a new position in Harmony Biosciences during the 1st quarter valued at about $57,000. Finally, PNC Financial Services Group Inc. increased 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 valued at $80,000 after purchasing an additional 519 shares during the period. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Performance

NASDAQ:HRMY traded down $1.23 during trading hours on Wednesday, reaching $35.20. The stock had a trading volume of 701,636 shares, compared to its average volume of 635,644. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.63 and a current ratio of 3.67. The stock has a 50 day simple moving average of $33.84 and a 200 day simple moving average of $33.91. Harmony Biosciences has a 12-month low of $26.47 and a 12-month high of $41.61. The stock has a market cap of $2.02 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 0.50 and a beta of 0.83.

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