Brokerages Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) PT at $40.63

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $40.63.

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group lifted their price target on Harmony Biosciences from $25.00 to $28.00 and gave the company a “sell” rating in a report on Tuesday, January 9th. Mizuho dropped their target price on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Cantor Fitzgerald restated an “overweight” rating and set a $49.00 target price on shares of Harmony Biosciences in a research note on Friday, April 12th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday, April 9th. Finally, Bank of America restated an “underperform” rating and set a $30.00 target price on shares of Harmony Biosciences in a research note on Tuesday, January 2nd.

Harmony Biosciences Trading Up 1.3 %

HRMY opened at $29.23 on Monday. The stock’s fifty day moving average is $31.58 and its two-hundred day moving average is $30.01. The company has a market capitalization of $1.66 billion, a P/E ratio of 13.79, a PEG ratio of 0.41 and a beta of 0.73. Harmony Biosciences has a 52 week low of $18.61 and a 52 week high of $39.26. The company has a quick ratio of 2.72, a current ratio of 2.75 and a debt-to-equity ratio of 0.38.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.29). The firm had revenue of $168.40 million for the quarter, compared to analysts’ expectations of $168.90 million. Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. Analysts forecast that Harmony Biosciences will post 3 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jeffrey Dierks sold 11,979 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $32.00, for a total value of $383,328.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 30.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. HealthInvest Partners AB acquired a new position in shares of Harmony Biosciences in the 4th quarter valued at about $4,684,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Harmony Biosciences by 17.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 290,911 shares of the company’s stock valued at $9,533,000 after buying an additional 42,736 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Harmony Biosciences by 18.3% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,420,000 shares of the company’s stock valued at $46,533,000 after buying an additional 220,000 shares during the period. Dark Forest Capital Management LP acquired a new position in Harmony Biosciences in the 3rd quarter worth about $1,408,000. Finally, Janney Montgomery Scott LLC acquired a new position in Harmony Biosciences in the 3rd quarter worth about $686,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

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.