Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Price Target at $42.67

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been given a consensus recommendation of “Hold” by the twelve brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $42.6667.

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a report on Monday, February 23rd. Truist Financial lowered shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research report on Monday, February 23rd. Wall Street Zen downgraded shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “hold (c)” rating on shares of Harmony Biosciences in a research report on Monday, December 29th. Finally, UBS Group cut their target price on Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $26.54 on Monday. The business’s 50 day moving average price is $32.20 and its 200-day moving average price is $32.84. Harmony Biosciences has a fifty-two week low of $25.52 and a fifty-two week high of $40.87. The company has a market cap of $1.54 billion, a P/E ratio of 9.79, a P/E/G ratio of 0.37 and a beta of 0.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.58 and a current ratio of 3.60.

Harmony Biosciences (NASDAQ:HRMY) last issued 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 company had revenue of $243.78 million during the quarter, compared to the consensus estimate of $240.04 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. Sell-side analysts predict that Harmony Biosciences will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In other Harmony Biosciences news, CFO Sandip Kapadia sold 20,961 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $35.92, for a total value of $752,919.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 23.60% of the stock is owned by company insiders.

Institutional Trading of Harmony Biosciences

A number of large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew 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 worth $28,000 after purchasing an additional 643 shares during the last quarter. Allworth Financial LP lifted its holdings in Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after buying an additional 602 shares in the last quarter. Leonteq Securities AG purchased a new stake in Harmony Biosciences in the 4th quarter valued at about $30,000. National Bank of Canada FI purchased a new stake in Harmony Biosciences in the 3rd quarter valued at about $40,000. Finally, Clearstead Advisors LLC grew its stake in Harmony Biosciences by 145.9% in the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after acquiring an additional 699 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

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.