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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $41.33.

A number of analysts recently weighed in on HRMY shares. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a research note on Tuesday. Citigroup began coverage on Harmony Biosciences in a research note on Friday, June 21st. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, UBS Group initiated coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They set a “buy” rating and a $56.00 target price for the company.

Harmony Biosciences Trading Down 1.4 %

Shares of HRMY opened at $37.29 on Thursday. The stock’s 50-day moving average price is $35.45 and its 200 day moving average price is $32.40. The company has a quick ratio of 3.09, a current ratio of 3.13 and a debt-to-equity ratio of 0.32. Harmony Biosciences has a 12-month low of $18.61 and a 12-month high of $39.73. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 0.77 and a beta of 0.73.

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. The business had revenue of $172.80 million during the quarter, compared to analyst estimates of $172.53 million. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. Harmony Biosciences’s revenue was up 28.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 earnings per share. As a group, research analysts predict that Harmony Biosciences will post 2.19 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. LSV Asset Management grew its holdings in Harmony Biosciences by 346.5% during the 1st quarter. LSV Asset Management now owns 335,146 shares of the company’s stock worth $11,254,000 after acquiring an additional 260,093 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Harmony Biosciences by 53.7% during the second quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock valued at $20,562,000 after purchasing an additional 238,140 shares during the last quarter. Renaissance Technologies LLC raised its position in Harmony Biosciences by 56.7% in the 2nd quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock worth $17,975,000 after purchasing an additional 215,700 shares during the last quarter. Capital Management Corp VA acquired a new position in Harmony Biosciences during the 1st quarter worth $7,018,000. Finally, Marshall Wace LLP boosted its position in Harmony Biosciences by 145.4% in the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after buying an additional 181,092 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Company Profile

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.