Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives $45.63 Average PT from Analysts

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has received a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $45.25.

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, September 25th. Truist Financial reduced their price objective on shares of Harmony Biosciences from $48.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday. UBS Group decreased their price objective on shares of Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Oppenheimer restated an “outperform” rating and set a $62.00 target price on shares of Harmony Biosciences in a report on Monday, November 24th. Finally, Mizuho upped their price target on Harmony Biosciences from $39.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, December 1st.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 25,933 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $40.11, for a total transaction of $1,040,172.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 23.60% of the stock is owned by insiders.

Institutional Trading of Harmony Biosciences

Several large investors have recently modified their holdings of HRMY. Comerica Bank raised its holdings in Harmony Biosciences by 6.3% in the 1st quarter. Comerica Bank now owns 14,342 shares of the company’s stock worth $476,000 after acquiring an additional 847 shares during the period. Amundi increased its stake in shares of Harmony Biosciences by 115.6% in the first quarter. Amundi now owns 39,668 shares of the company’s stock worth $1,229,000 after purchasing an additional 21,266 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Harmony Biosciences by 81.7% during the 1st quarter. Advisors Asset Management Inc. now owns 6,088 shares of the company’s stock worth $202,000 after purchasing an additional 2,737 shares during the last quarter. AQR Capital Management LLC boosted its stake in Harmony Biosciences by 4.7% during the 1st quarter. AQR Capital Management LLC now owns 166,340 shares of the company’s stock valued at $5,521,000 after purchasing an additional 7,484 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Harmony Biosciences by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock valued at $752,000 after buying an additional 984 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $38.55 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.75 and a quick ratio of 3.72. Harmony Biosciences has a fifty-two week low of $25.52 and a fifty-two week high of $40.93. The stock’s 50-day moving average is $36.19 and its two-hundred day moving average is $33.87. The firm has a market cap of $2.22 billion, a P/E ratio of 12.12, a PEG ratio of 0.40 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The firm had revenue of $239.46 million for the quarter, compared to analysts’ expectations of $222.68 million. Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%. Analysts predict that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

About Harmony Biosciences

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.