Brokerages Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $45.50

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been assigned an average rating of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $45.50.

A number of equities analysts recently issued reports on the stock. Zacks Research downgraded shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Truist Financial upped their target price on shares of Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. UBS Group reaffirmed a “neutral” rating and set a $37.00 target price on shares of Harmony Biosciences in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Finally, Mizuho boosted their price objective on shares of Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, July 31st.

Harmony Biosciences Stock Up 0.2%

Harmony Biosciences stock opened at $38.15 on Thursday. Harmony Biosciences has a one year low of $25.52 and a one year high of $40.87. The stock has a fifty day moving average of $36.32 and a 200 day moving average of $32.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. The stock has a market cap of $2.22 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 0.35 and a beta of 0.96.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.32. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The business had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $250.77 million. During the same period last year, the firm posted $0.92 earnings per share. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, sell-side analysts predict that Harmony Biosciences will post 3.77 EPS for the current year.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nebula Research & Development LLC grew its holdings in Harmony Biosciences by 2.0% during the second quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock valued at $550,000 after purchasing an additional 348 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Harmony Biosciences by 2.4% in the second quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company’s stock worth $717,000 after buying an additional 532 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Harmony Biosciences by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,799 shares of the company’s stock worth $105,000 after buying an additional 575 shares during the period. Allworth Financial LP lifted its position in shares of 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. Finally, PNC Financial Services Group Inc. lifted its position in shares of Harmony Biosciences by 30.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the company’s stock valued at $100,000 after buying an additional 619 shares in the last quarter. 86.23% of the stock is currently 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.