Analysts Set Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Target Price at $52.44

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $52.44.

Several brokerages have issued reports on HRMY. Mizuho upped their price objective on Harmony Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, March 18th. UBS Group decreased their price objective on shares of Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating for the company in a report on Monday, April 28th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, April 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Deep Track Capital LP bought a new stake in shares of Harmony Biosciences during the fourth quarter valued at about $49,894,000. Vanguard Group Inc. increased its stake in Harmony Biosciences by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock valued at $162,883,000 after buying an additional 1,262,362 shares during the period. Marshall Wace LLP raised its position in shares of Harmony Biosciences by 165.2% during the 4th quarter. Marshall Wace LLP now owns 929,744 shares of the company’s stock worth $31,992,000 after buying an additional 579,103 shares in the last quarter. Norges Bank acquired a new stake in shares of Harmony Biosciences in the 4th quarter worth approximately $16,118,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of Harmony Biosciences by 18.2% in the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock valued at $78,452,000 after acquiring an additional 351,582 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

Harmony Biosciences stock opened at $30.32 on Friday. Harmony Biosciences has a 52 week low of $26.47 and a 52 week high of $41.61. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The stock has a market cap of $1.74 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The stock has a 50 day moving average of $31.41 and a 200-day moving average of $34.08.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The firm had revenue of $201.30 million for the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. On average, analysts expect that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

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.