Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives Average Rating of "Moderate Buy" from Brokerages

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eight analysts that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $40.63.

HRMY has been the subject of several recent research reports. Needham & Company LLC reissued a "buy" rating and set a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 30th. Cantor Fitzgerald restated an "overweight" rating and set a $49.00 price target on shares of Harmony Biosciences in a report on Friday, April 12th. Finally, Mizuho cut their price target on shares of Harmony Biosciences from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, February 27th.

Harmony Biosciences Stock Down 1.0 %

HRMY traded down $0.28 during midday trading on Friday, hitting $29.03. The company had a trading volume of 334,571 shares, compared to its average volume of 392,523. Harmony Biosciences has a 52 week low of $18.61 and a 52 week high of $39.26. The company has a quick ratio of 3.07, a current ratio of 3.11 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 0.48 and a beta of 0.75. The stock's 50 day moving average price is $30.96 and its 200 day moving average price is $30.71.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. The company had revenue of $154.62 million during the quarter, compared to the consensus estimate of $154.10 million. Harmony Biosciences had a net margin of 22.30% and a return on equity of 28.26%. The firm's revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, research analysts anticipate that Harmony Biosciences will post 2.53 earnings per share for the current fiscal year.

Insider Activity at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 11,979 shares of the company's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $32.00, for a total transaction of $383,328.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 30.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Harmony Biosciences

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Harmony Biosciences by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,684,152 shares of the company's stock valued at $120,730,000 after buying an additional 88,295 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Harmony Biosciences by 18.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,420,000 shares of the company's stock worth $46,533,000 after acquiring an additional 220,000 shares during the period. Pacer Advisors Inc. increased its holdings in Harmony Biosciences by 534,795.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,224,910 shares of the company's stock worth $39,565,000 after acquiring an additional 1,224,681 shares during the period. Federated Hermes Inc. increased its holdings in Harmony Biosciences by 2,132.8% during the 4th quarter. Federated Hermes Inc. now owns 525,337 shares of the company's stock worth $16,968,000 after acquiring an additional 501,809 shares during the period. Finally, 683 Capital Management LLC increased its holdings in Harmony Biosciences by 16.7% during the 3rd quarter. 683 Capital Management LLC now owns 350,000 shares of the company's stock worth $11,470,000 after acquiring an additional 50,000 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.