Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report)'s stock price dropped 4.5% on Thursday . The company traded as low as $33.51 and last traded at $33.56. Approximately 150,862 shares changed hands during trading, a decline of 76% from the average daily volume of 615,970 shares. The stock had previously closed at $35.14.
Analyst Ratings Changes
Several brokerages have commented on HRMY. HC Wainwright reiterated a "buy" rating and issued a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, April 8th. UBS Group decreased their target price on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Oppenheimer initiated coverage on Harmony Biosciences in a research note on Monday, June 2nd. They issued an "outperform" rating and a $61.00 price objective on the stock. Mizuho increased their target price on Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $49.00 target price on shares of Harmony Biosciences in a report on Tuesday, May 6th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Harmony Biosciences presently has a consensus rating of "Buy" and a consensus target price of $53.00.
Get Our Latest Report on Harmony Biosciences
Harmony Biosciences Price Performance
The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $1.90 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 0.47 and a beta of 0.87. The firm's 50 day simple moving average is $32.14 and its 200 day simple moving average is $34.09.
Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.19. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $184.73 million during the quarter, compared to analysts' expectations of $184.26 million. During the same period in the previous year, the company earned $0.67 EPS. The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.
Hedge Funds Weigh In On Harmony Biosciences
A number of large investors have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in Harmony Biosciences in the 1st quarter worth approximately $29,000. Brooklyn Investment Group grew its stake in shares of Harmony Biosciences by 1,031.9% in the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company's stock valued at $35,000 after buying an additional 970 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Harmony Biosciences in the 4th quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Harmony Biosciences in the 1st quarter valued at about $57,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Harmony Biosciences by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock worth $80,000 after purchasing an additional 519 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.
About Harmony Biosciences
(
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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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