Harmony Biosciences (NASDAQ:HRMY) Stock Price Up 12.6% - Should You Buy?

Key Points

• Shares jumped 12.6% to about $33.25 on Tuesday, though trading volume (601,941) was down roughly 27% from the average session volume.
• The company missed quarterly EPS ($0.38 vs. $0.84 expected) while posting revenue of $243.8M (slightly above estimates) and 21.1% year‑over‑year revenue growth.
• Analyst sentiment is mixed with a consensus rating of “Hold” and a consensus target of $42.67 (price targets range roughly $28–$55), and insiders have recently trimmed positions while institutional ownership remains high (~86%).

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report)'s share price shot up 12.6% on Tuesday . The stock traded as high as $31.89 and last traded at $33.2490. 601,941 shares were traded during trading, a decline of 27% from the average session volume of 827,175 shares. The stock had previously closed at $29.53.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Harmony Biosciences from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. HC Wainwright reiterated a "buy" rating and set a $55.00 price target on shares of Harmony Biosciences in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft cut shares of Harmony Biosciences from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a research report on Monday, February 23rd. Mizuho set a $50.00 price objective on shares of Harmony Biosciences in a report on Thursday, February 19th. Finally, Bank of America decreased their price target on Harmony Biosciences from $32.00 to $28.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $42.67.

Harmony Biosciences Price Performance

The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. The stock's fifty day moving average price is $29.51 and its two-hundred day moving average price is $32.65. The company has a current ratio of 3.60, a quick ratio of 3.58 and a debt-to-equity ratio of 0.17.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.46). Harmony Biosciences had a return on equity of 19.86% and a net margin of 18.29%.The business had revenue of $243.78 million for the quarter, compared to analysts' expectations of $240.04 million. During the same period last year, the firm earned $0.85 earnings per share. The firm's quarterly revenue was up 21.1% on a year-over-year basis. Equities research analysts expect that Harmony Biosciences Holdings, Inc. will post 3.33 EPS for the current year.

Insiders Place Their Bets

In other Harmony Biosciences news, CFO Sandip Kapadia sold 3,746 shares of the company's stock in a transaction on Monday, January 26th. The shares were sold at an average price of $37.15, for a total value of $139,163.90. Following the completion of the transaction, the chief financial officer owned 24,521 shares in the company, valued at $910,955.15. This represents a 13.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its holdings in shares of Harmony Biosciences by 589.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company's stock valued at $28,000 after buying an additional 643 shares during the last quarter. Allworth Financial LP boosted its holdings in Harmony Biosciences by 286.7% in the 4th quarter. Allworth Financial LP now owns 812 shares of the company's stock valued at $30,000 after purchasing an additional 602 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Harmony Biosciences in the 4th quarter valued at approximately $30,000. National Bank of Canada FI acquired a new stake in Harmony Biosciences in the third quarter valued at $40,000. Finally, Clearstead Advisors LLC increased its holdings in shares of Harmony Biosciences by 145.9% in the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company's stock valued at $44,000 after purchasing an additional 699 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company's mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company's flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.

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