Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $45.25 Consensus Price Target from Analysts

Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) have been assigned an average rating of “Buy” from the eleven analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $45.25.

Several equities research analysts recently weighed in on HRMY shares. Truist Financial cut their target price on shares of Harmony Biosciences from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Oppenheimer reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Harmony Biosciences in a research report on Monday, November 24th. Wall Street Zen upgraded Harmony Biosciences from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Needham & Company LLC restated a “buy” rating and set a $42.00 price target on shares of Harmony Biosciences in a report on Monday, November 24th. Finally, UBS Group reduced their price target on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th.

Insider Activity at Harmony Biosciences

In other news, CEO Jeffrey M. Dayno sold 25,933 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $40.11, for a total transaction of $1,040,172.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandip Kapadia sold 3,746 shares of the stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $37.15, for a total value of $139,163.90. Following the completion of the transaction, the chief financial officer owned 24,521 shares in the company, valued at approximately $910,955.15. The trade was a 13.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 50,640 shares of company stock worth $1,932,256. 23.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Harmony Biosciences

Several hedge funds have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. purchased a new position in Harmony Biosciences in the second quarter worth $1,478,000. Capital Fund Management S.A. purchased a new stake in shares of Harmony Biosciences during the 2nd quarter worth $1,142,000. Exchange Traded Concepts LLC grew its stake in shares of Harmony Biosciences by 102.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 65,023 shares of the company’s stock worth $1,792,000 after purchasing an additional 32,923 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Harmony Biosciences by 39.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 234,779 shares of the company’s stock valued at $6,471,000 after purchasing an additional 66,236 shares in the last quarter. Finally, Nomura Holdings Inc. increased its holdings in shares of Harmony Biosciences by 382.3% in the 2nd quarter. Nomura Holdings Inc. now owns 422,919 shares of the company’s stock valued at $13,364,000 after purchasing an additional 335,237 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

HRMY opened at $37.48 on Friday. The stock’s 50-day moving average price is $37.51 and its 200 day moving average price is $34.28. Harmony Biosciences has a 12-month low of $25.52 and a 12-month high of $40.87. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 0.35 and a beta of 0.84. The company has a current ratio of 3.75, a quick ratio of 3.72 and a debt-to-equity ratio of 0.18.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.05). The firm had revenue of $239.46 million during the quarter, compared to analyst estimates of $222.68 million. Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. As a group, sell-side analysts expect that Harmony Biosciences will post 2.43 earnings per share 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.