Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been given an average rating of “Moderate Buy” by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $44.38.

HRMY has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a research report on Wednesday, October 2nd. Mizuho upped their price target on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. UBS Group assumed coverage on shares of Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 price objective on the stock. Finally, Raymond James restated an “outperform” rating and issued a $40.00 target price on shares of Harmony Biosciences in a research note on Thursday, October 10th.

Institutional Trading of Harmony Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Creative Planning bought a new stake in shares of Harmony Biosciences in the 3rd quarter worth about $246,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Harmony Biosciences by 84.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 44,900 shares of the company’s stock worth $1,796,000 after purchasing an additional 20,600 shares in the last quarter. CWM LLC increased its holdings in Harmony Biosciences by 111.7% in the third quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after buying an additional 775 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Harmony Biosciences by 15.3% during the third quarter. Handelsbanken Fonder AB now owns 11,300 shares of the company’s stock valued at $452,000 after buying an additional 1,500 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Harmony Biosciences by 244.4% during the 3rd quarter. SG Americas Securities LLC now owns 15,724 shares of the company’s stock worth $629,000 after buying an additional 11,158 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Trading Up 1.3 %

NASDAQ HRMY opened at $35.41 on Monday. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 0.67 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13. Harmony Biosciences has a one year low of $18.79 and a one year high of $40.60. The company’s 50 day moving average price is $36.41 and its 200 day moving average price is $32.84.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.24. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The business had revenue of $172.80 million for the quarter, compared to the consensus estimate of $172.53 million. During the same quarter last year, the firm posted $0.56 EPS. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. On average, sell-side analysts predict that Harmony Biosciences will post 2.19 EPS for the current year.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.