Harmony Biosciences (NASDAQ:HRMY) Reaches New 1-Year Low - Should You Sell?

Key Points

• Harmony Biosciences shares hit a new 52-week low of $25.95 during trading, closing at $26.36 with a trading volume of 645,267 shares.
• Analysts have given the company a Moderate Buy rating, with a consensus price target of $46.11, despite some institutions lowering their target prices.
• In its latest earnings report, Harmony reported $0.68 earnings per share, missing estimates, while revenue grew by 16.0% year-over-year, indicating strong performance but unmet expectations.

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $25.95 and last traded at $26.36, with a volume of 645267 shares. The stock had previously closed at $26.54.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HRMY shares. The Goldman Sachs Group started coverage on Harmony Biosciences in a report on Thursday, July 10th. They issued a "neutral" rating and a $33.00 target price for the company. HC Wainwright dropped their target price on Harmony Biosciences from $70.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, September 25th. Truist Financial started coverage on Harmony Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $48.00 target price for the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Harmony Biosciences in a report on Saturday, September 27th. Finally, Mizuho dropped their target price on Harmony Biosciences from $50.00 to $35.00 and set an "outperform" rating for the company in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $46.11.

Harmony Biosciences Price Performance

The company has a current ratio of 3.84, a quick ratio of 3.80 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1.52 billion, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 0.33 and a beta of 0.79. The stock has a 50 day moving average of $32.94 and a 200-day moving average of $32.83.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share (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 business had revenue of $200.49 million for the quarter, compared to the consensus estimate of $204.37 million. During the same period in the prior year, the business posted $1.05 earnings per share. Harmony Biosciences's revenue was up 16.0% on a year-over-year basis. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of HRMY. Brooklyn Investment Group raised its position 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 in the last quarter. Parkside Financial Bank & Trust raised its position 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 valued at $37,000 after purchasing an additional 1,130 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Harmony Biosciences during the 1st quarter valued at $57,000. Mirae Asset Global Investments Co. Ltd. raised its position in Harmony Biosciences by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company's stock valued at $70,000 after purchasing an additional 299 shares in the last quarter. Finally, CWM LLC raised its position in Harmony Biosciences by 34.8% during the 1st quarter. CWM LLC now owns 2,704 shares of the company's stock valued at $90,000 after purchasing an additional 698 shares in the last quarter. 86.23% of the stock is owned by 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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