Brokerages Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) PT at $41.44

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been given a consensus recommendation of “Hold” by the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $41.4444.

A number of research firms have recently issued reports on HRMY. Truist Financial lifted their price objective on shares of Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a research note on Friday, May 8th. HC Wainwright reissued a “buy” rating on shares of Harmony Biosciences in a research report on Wednesday, June 24th. Zacks Research raised shares of Harmony Biosciences from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Weiss Ratings upgraded shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Tuesday, June 30th.

Harmony Biosciences Trading Up 3.4%

NASDAQ HRMY opened at $38.26 on Wednesday. Harmony Biosciences has a one year low of $25.52 and a one year high of $40.87. The company’s 50 day moving average price is $32.79 and its 200 day moving average price is $32.81. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 0.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.21). Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The company had revenue of $215.39 million during the quarter, compared to analysts’ expectations of $220.84 million. During the same period last year, the business earned $0.78 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, sell-side analysts predict that Harmony Biosciences will post 3.26 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. City Center Advisors LLC boosted its position in Harmony Biosciences by 10.8% during the 2nd quarter. City Center Advisors LLC now owns 9,625 shares of the company’s stock valued at $350,000 after purchasing an additional 939 shares during the period. CX Institutional boosted its stake in Harmony Biosciences by 6.1% during the 2nd quarter. CX Institutional now owns 259,496 shares of the company’s stock valued at $9,448,000 after purchasing an additional 14,809 shares during the period. Pacer Advisors Inc. grew its position in Harmony Biosciences by 9.7% in the 1st quarter. Pacer Advisors Inc. now owns 318,527 shares of the company’s stock worth $8,922,000 after purchasing an additional 28,174 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of Harmony Biosciences by 65.0% in the first quarter. Segall Bryant & Hamill LLC now owns 30,059 shares of the company’s stock valued at $842,000 after purchasing an additional 11,841 shares during the period. Finally, Edgestream Partners L.P. raised its holdings in shares of Harmony Biosciences by 52.1% during the first quarter. Edgestream Partners L.P. now owns 138,130 shares of the company’s stock valued at $3,869,000 after buying an additional 47,303 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

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.