Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $40.63 Average Target Price from Analysts

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $40.63.

A number of brokerages recently commented on HRMY. Bank of America reissued an "underperform" rating and issued a $30.00 price target on shares of Harmony Biosciences in a report on Tuesday, January 2nd. Mizuho reduced their price target on Harmony Biosciences from $42.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday, February 27th. Cantor Fitzgerald restated an "overweight" rating and set a $49.00 price objective on shares of Harmony Biosciences in a research note on Friday, April 12th. Needham & Company LLC restated a "buy" rating and set a $50.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group increased their price target on Harmony Biosciences from $25.00 to $28.00 and gave the stock a "sell" rating in a research report on Tuesday, January 9th.

Harmony Biosciences Trading Down 0.2 %

NASDAQ:HRMY traded down $0.05 on Monday, hitting $29.35. 298,843 shares of the stock were exchanged, compared to its average volume of 373,788. Harmony Biosciences has a fifty-two week low of $18.61 and a fifty-two week high of $39.26. The stock has a fifty day moving average of $31.86 and a 200-day moving average of $30.06. The company has a current ratio of 2.75, a quick ratio of 2.72 and a debt-to-equity ratio of 0.38. The stock has a market cap of $1.67 billion, a PE ratio of 13.84, a PEG ratio of 0.41 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.29). Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The company had revenue of $168.40 million during the quarter, compared to analysts' expectations of $168.90 million. During the same period in the previous year, the company earned $1.01 EPS. Harmony Biosciences's quarterly revenue was up 31.3% on a year-over-year basis. As a group, equities analysts expect that Harmony Biosciences will post 3 earnings per share for the current fiscal year.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 11,979 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $32.00, for a total transaction of $383,328.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 30.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TFO Wealth Partners LLC boosted its stake in shares of Harmony Biosciences by 98,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company's stock worth $32,000 after acquiring an additional 987 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Harmony Biosciences by 47.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company's stock worth $33,000 after acquiring an additional 329 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Harmony Biosciences by 95.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,533 shares of the company's stock worth $50,000 after acquiring an additional 748 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in shares of Harmony Biosciences in the third quarter worth $150,000. Finally, ELCO Management Co. LLC acquired a new stake in shares of Harmony Biosciences in the third quarter worth $210,000. 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.