Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY – Get Rating) – Equities research analysts at Cantor Fitzgerald dropped their FY2022 earnings per share estimates for Harmony Biosciences in a research note issued on Wednesday, August 3rd. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will post earnings per share of $1.17 for the year, down from their previous forecast of $1.87. Cantor Fitzgerald currently has a “Overweight” rating and a $63.00 target price on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $1.66 per share.
Other research analysts have also issued research reports about the company. The Goldman Sachs Group lowered Harmony Biosciences from a “buy” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research note on Tuesday, July 12th. Jefferies Financial Group cut Harmony Biosciences from a “buy” rating to a “hold” rating and set a $57.00 price target on the stock. in a report on Wednesday. Oppenheimer lifted their price target on shares of Harmony Biosciences from $62.00 to $67.00 and gave the stock an “outperform” rating in a research report on Wednesday. Mizuho lowered their price objective on shares of Harmony Biosciences from $64.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Raymond James lifted their target price on shares of Harmony Biosciences from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $59.86.
Harmony Biosciences Stock Performance
Harmony Biosciences (NASDAQ:HRMY – Get Rating) last released its earnings results on Tuesday, August 2nd. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.05). Harmony Biosciences had a return on equity of 60.12% and a net margin of 15.95%. During the same period last year, the firm earned $0.54 EPS.
Insider Activity at Harmony Biosciences
In related news, CEO John C. Jacobs sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $44.18, for a total value of $1,104,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Harmony Biosciences news, CEO John C. Jacobs sold 25,000 shares of the company’s stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $44.18, for a total transaction of $1,104,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack Nielsen sold 180,838 shares of the stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $56.01, for a total transaction of $10,128,736.38. Following the completion of the transaction, the director now directly owns 3,432,006 shares of the company’s stock, valued at $192,226,656.06. The disclosure for this sale can be found here. Insiders sold 502,307 shares of company stock valued at $26,998,410 in the last three months. Corporate insiders own 34.70% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Valor Management LLC bought a new stake in shares of Harmony Biosciences in the 4th quarter worth about $478,337,000. Polar Capital Holdings Plc bought a new position in shares of Harmony Biosciences during the 1st quarter worth approximately $26,758,000. Adage Capital Partners GP L.L.C. increased its stake in Harmony Biosciences by 41.1% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,750,000 shares of the company’s stock valued at $74,620,000 after purchasing an additional 509,585 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of Harmony Biosciences in the second quarter worth $14,820,000. Finally, Hood River Capital Management LLC acquired a new stake in shares of Harmony Biosciences in the first quarter worth $14,544,000. Hedge funds and other institutional investors own 75.62% of the company’s stock.
Harmony Biosciences Company Profile
Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, develops and commercializes therapies for patients with rare neurological disorders in the United States. Its product, WAKIX is a medication for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.
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