FY2023 Earnings Estimate for Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Issued By Cantor Fitzgerald

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMYGet Rating) – Equities researchers at Cantor Fitzgerald cut their FY2023 earnings estimates for Harmony Biosciences in a report issued on Wednesday, August 3rd. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will earn $2.78 per share for the year, down from their previous estimate of $2.86. 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.

Harmony Biosciences (NASDAQ:HRMYGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.39 earnings per share (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 quarter last year, the company earned $0.54 EPS.

A number of other analysts also recently weighed in on the company. Raymond James increased their price objective on Harmony Biosciences from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday. The Goldman Sachs Group downgraded Harmony Biosciences from a “buy” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Tuesday, July 12th. Mizuho decreased their price objective on Harmony Biosciences from $64.00 to $60.00 and set a “buy” rating for the company in a report on Thursday. Jefferies Financial Group downgraded Harmony Biosciences from a “buy” rating to a “hold” rating and set a $57.00 price objective for the company. in a report on Wednesday. Finally, Oppenheimer upped their price target on shares of Harmony Biosciences from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Harmony Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $59.86.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $52.50 on Thursday. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 55.26 and a beta of 0.33. Harmony Biosciences has a twelve month low of $26.25 and a twelve month high of $57.13. The stock has a fifty day simple moving average of $49.55 and a 200 day simple moving average of $45.07. The company has a quick ratio of 4.88, a current ratio of 4.91 and a debt-to-equity ratio of 0.77.

Insider Buying and Selling at Harmony Biosciences

In other news, Director Andreas Wicki sold 12,640 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $52.67, for a total transaction of $665,748.80. Following the transaction, the director now owns 3,620,124 shares of the company’s stock, valued at approximately $190,671,931.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Andreas Wicki sold 12,640 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $52.67, for a total transaction of $665,748.80. Following the transaction, the director now owns 3,620,124 shares of the company’s stock, valued at approximately $190,671,931.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the director now directly owns 3,432,006 shares in the company, valued at approximately $192,226,656.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 502,307 shares of company stock valued at $26,998,410. 34.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Catalyst Capital Advisors LLC acquired a new stake in shares of Harmony Biosciences in the 1st quarter worth about $27,000. Comerica Bank raised its holdings in shares of Harmony Biosciences by 3.8% in the 1st quarter. Comerica Bank now owns 19,507 shares of the company’s stock worth $1,016,000 after acquiring an additional 710 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of Harmony Biosciences by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 20,879 shares of the company’s stock worth $1,016,000 after acquiring an additional 710 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Harmony Biosciences by 16.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,057 shares of the company’s stock worth $246,000 after acquiring an additional 727 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its holdings in shares of Harmony Biosciences by 8.2% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 9,630 shares of the company’s stock worth $468,000 after acquiring an additional 730 shares during the last quarter. Institutional investors own 75.62% of the company’s stock.

About Harmony Biosciences

(Get Rating)

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.

Further Reading

Earnings History and Estimates for Harmony Biosciences (NASDAQ:HRMY)

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