Brokerages Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $47.11

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been assigned a consensus recommendation of “Hold” from the eleven research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $47.1111.

Several brokerages recently weighed in on HRMY. Oppenheimer restated an “outperform” rating and set a $70.00 target price on shares of Harmony Biosciences in a research note on Tuesday, August 4th. UBS Group reiterated a “neutral” rating and set a $37.00 price target on shares of Harmony Biosciences in a report on Wednesday, August 5th. Mizuho increased their price objective on Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Zacks Research downgraded shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Wolfe Research initiated coverage on shares of Harmony Biosciences in a research note on Wednesday, August 26th. They issued an “outperform” rating and a $60.00 price objective on the stock.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Kumar Budur sold 35,852 shares of the firm’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $43.05, for a total value of $1,543,428.60. Following the sale, the insider directly owned 13,115 shares in the company, valued at $564,600.75. This trade represents a 73.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 72,406 shares of company stock valued at $3,108,520. 11.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in shares of Harmony Biosciences by 4.6% during the 2nd quarter. IFP Advisors Inc now owns 8,102 shares of the company’s stock worth $295,000 after purchasing an additional 353 shares in the last quarter. Allworth Financial LP grew its stake in shares of Harmony Biosciences by 286.7% in the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after purchasing an additional 602 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Harmony Biosciences by 589.9% in 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 period. Clearstead Advisors LLC raised its holdings in shares of 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 buying an additional 699 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of Harmony Biosciences by 3.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 20,020 shares of the company’s stock valued at $561,000 after purchasing an additional 727 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Stock Down 1.7%

Shares of Harmony Biosciences stock opened at $42.02 on Monday. Harmony Biosciences has a 12-month low of $25.52 and a 12-month high of $43.49. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $38.57 and a two-hundred day moving average price of $33.74. The stock has a market capitalization of $2.45 billion, a P/E ratio of 13.64, a PEG ratio of 0.40 and a beta of 0.93.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. The company had revenue of $261.28 million during the quarter, compared to analysts’ expectations of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 earnings per share. Equities analysts expect that Harmony Biosciences will post 3.77 earnings per share for the current year.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial-stage pharmaceutical company focused on developing and commercializing therapies for patients with rare neurological disorders. The company was founded in 2017 and is headquartered in Plymouth Meeting, Pennsylvania, with an emphasis on conditions that are often underserved by traditional pharmaceutical research.

Harmony’s principal product is WAKIX (pitolisant), a first-in-class histamine H3 receptor antagonist/inverse agonist approved by the U.S.