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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY – Get Rating) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $59.86.

Several equities analysts recently commented on the company. The Goldman Sachs Group cut Harmony Biosciences from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a research report on Tuesday, July 12th. Cantor Fitzgerald started coverage on Harmony Biosciences in a report on Thursday, April 14th. They set an “overweight” rating and a $63.00 target price on the stock. Raymond James upped their price target on Harmony Biosciences from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday. Mizuho lowered their price target on Harmony Biosciences from $64.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Oppenheimer raised their target price on Harmony Biosciences from $62.00 to $67.00 and gave the stock an “outperform” rating in a report on Wednesday.

Insiders Place Their Bets

In other news, CEO John C. Jacobs sold 15,000 shares of the stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $45.42, for a total value of $681,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jack Nielsen sold 180,838 shares of Harmony Biosciences stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $56.01, for a total transaction of $10,128,736.38. Following the completion of the sale, the director now directly owns 3,432,006 shares in the company, valued at $192,226,656.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John C. Jacobs sold 15,000 shares of Harmony Biosciences stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $45.42, for a total transaction of $681,300.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 502,307 shares of company stock worth $26,998,410. Company insiders own 34.70% of the company’s stock.

Institutional Inflows and Outflows

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

Harmony Biosciences Stock Up 0.3 %

Shares of NASDAQ:HRMY opened at $52.50 on Friday. The business’s 50 day simple moving average is $49.55 and its two-hundred day simple moving average is $45.07. The firm has a market cap of $3.10 billion, a P/E ratio of 55.26 and a beta of 0.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 4.88 and a current ratio of 4.91. Harmony Biosciences has a 52-week low of $26.25 and a 52-week high of $57.13.

Harmony Biosciences (NASDAQ:HRMY – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates 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 in the prior year, the business earned $0.54 EPS. As a group, research analysts forecast that Harmony Biosciences will post 1.66 EPS for the current fiscal year.

About Harmony Biosciences

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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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