Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Given Consensus Rating of “Hold” by Brokerages

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has been given a consensus rating of “Hold” by the eleven research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $40.8889.

Several analysts recently commented on the company. Zacks Research raised Harmony Biosciences from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft lowered Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Monday, February 23rd. Truist Financial raised their target price on Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Needham & Company LLC lowered their price target on Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Wall Street Zen downgraded Harmony Biosciences from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th.

Harmony Biosciences Stock Up 4.0%

Harmony Biosciences stock opened at $35.48 on Friday. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 0.24 and a beta of 0.96. Harmony Biosciences has a 52 week low of $25.52 and a 52 week high of $40.87. The business’s 50-day moving average price is $30.58 and its 200 day moving average price is $33.12. The company has a quick ratio of 3.56, a current ratio of 3.58 and a debt-to-equity ratio of 0.15.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.21). The company had revenue of $215.39 million for the quarter, compared to analyst estimates of $220.84 million. Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The firm’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the business earned $0.78 earnings per share. As a group, sell-side analysts anticipate that Harmony Biosciences will post 3.2 earnings per share for the current year.

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds have recently bought and sold shares of the business. Segall Bryant & Hamill LLC boosted its position in Harmony Biosciences by 65.0% during the first quarter. Segall Bryant & Hamill LLC now owns 30,059 shares of the company’s stock worth $842,000 after purchasing an additional 11,841 shares in the last quarter. Edgestream Partners L.P. boosted its position in Harmony Biosciences by 52.1% during the first quarter. Edgestream Partners L.P. now owns 138,130 shares of the company’s stock worth $3,869,000 after purchasing an additional 47,303 shares in the last quarter. Amundi boosted its position in Harmony Biosciences by 93.0% during the first quarter. Amundi now owns 12,308 shares of the company’s stock worth $345,000 after purchasing an additional 5,931 shares in the last quarter. California State Teachers Retirement System boosted its position in Harmony Biosciences by 40.9% during the first quarter. California State Teachers Retirement System now owns 57,928 shares of the company’s stock worth $1,623,000 after purchasing an additional 16,821 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in Harmony Biosciences by 29.6% during the first quarter. Empowered Funds LLC now owns 110,375 shares of the company’s stock worth $3,092,000 after purchasing an additional 25,222 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.