Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) PT at $42.50

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $42.6250.

A number of equities research analysts have commented on HRMY shares. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a research report on Thursday, July 16th. Weiss Ratings raised Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Zacks Research upgraded Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft raised their price target on Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Tuesday, June 30th. Finally, Truist Financial lifted their price objective on Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, May 8th.

Institutional Investors Weigh In On Harmony Biosciences

A number of large investors have recently made changes to their positions in HRMY. EverSource Wealth Advisors LLC increased its position in shares of Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after purchasing an additional 643 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of Harmony Biosciences in the fourth quarter worth approximately $30,000. Allworth Financial LP grew its position in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after buying an additional 602 shares during the period. Clearstead Advisors LLC grew its position in Harmony Biosciences by 145.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after buying an additional 699 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in Harmony Biosciences during the fourth quarter valued at approximately $47,000. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY opened at $35.24 on Friday. The firm’s 50-day moving average price is $34.48 and its 200-day moving average price is $32.56. Harmony Biosciences has a 52-week low of $25.52 and a 52-week high of $40.87. The company has a market cap of $2.04 billion, a PE ratio of 14.21, a PEG ratio of 0.33 and a beta of 0.94. The company has a quick ratio of 3.56, a current ratio of 3.58 and a debt-to-equity ratio of 0.15.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.21). The company had revenue of $215.39 million for the quarter, compared to analysts’ expectations of $220.84 million. Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 earnings per share. As a group, analysts anticipate that Harmony Biosciences will post 3.3 EPS for the current year.

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.