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

Key Points

• Harmony Biosciences Holdings, Inc. is currently rated as a "Buy" by ten analysts, with an average twelve-month price target of $45.50.
• The company's stock opened at $27.51 and has experienced a 1-year high of $41.61 and a low of $26.35.
• Harmony Biosciences reported an earnings miss with $0.68 EPS for the last quarter, below the expected $0.78, amidst a year-over-year revenue increase of 16.0%.

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) have been assigned an average recommendation of "Buy" from the ten analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $45.50.

A number of analysts have recently commented on HRMY shares. Deutsche Bank Aktiengesellschaft cut their target price on Harmony Biosciences from $54.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday. Truist Financial started coverage on Harmony Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $48.00 target price on the stock. Wall Street Zen cut Harmony Biosciences from a "buy" rating to a "hold" rating in a research report on Sunday. HC Wainwright cut their target price on Harmony Biosciences from $70.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Needham & Company LLC cut their target price on Harmony Biosciences from $48.00 to $41.00 and set a "buy" rating on the stock in a research report on Wednesday, September 24th.

Harmony Biosciences Stock Up 1.7%

Harmony Biosciences stock opened at $27.51 on Monday. Harmony Biosciences has a 1-year low of $26.35 and a 1-year high of $41.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.84 and a quick ratio of 3.80. The stock has a market cap of $1.58 billion, a PE ratio of 8.87, a P/E/G ratio of 0.34 and a beta of 0.84. The stock's fifty day moving average is $34.92 and its two-hundred day moving average is $33.37.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its 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 return on equity of 26.34% and a net margin of 23.44%.The firm had revenue of $200.49 million for the quarter, compared to analyst estimates of $204.37 million. During the same quarter last year, the firm posted $1.05 EPS. The firm's revenue for the quarter was up 16.0% on a year-over-year basis. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Harmony Biosciences

Several institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in Harmony Biosciences by 16.5% in the 2nd quarter. American Century Companies Inc. now owns 1,501,420 shares of the company's stock valued at $47,445,000 after acquiring an additional 212,633 shares during the period. LSV Asset Management increased its position in Harmony Biosciences by 24.6% in the 2nd quarter. LSV Asset Management now owns 1,488,502 shares of the company's stock valued at $47,037,000 after acquiring an additional 293,541 shares during the period. Marshall Wace LLP increased its position in Harmony Biosciences by 36.3% in the 2nd quarter. Marshall Wace LLP now owns 1,209,484 shares of the company's stock valued at $38,220,000 after acquiring an additional 321,947 shares during the period. Geode Capital Management LLC increased its position in Harmony Biosciences by 9.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,054,348 shares of the company's stock valued at $33,321,000 after acquiring an additional 88,598 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Harmony Biosciences by 127.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company's stock valued at $28,658,000 after acquiring an additional 508,498 shares during the period. Institutional investors and hedge funds own 86.23% of the company's stock.

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.

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