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

by · The Markets Daily

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY – Get Free Report) has been assigned a consensus rating of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $47.1111.

HRMY has been the topic of several recent research reports. Zacks Research lowered Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Needham & Company LLC increased their price objective on shares of Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Truist Financial upped their target price on shares of Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Finally, Wolfe Research began coverage on shares of Harmony Biosciences in a report on Wednesday, August 26th. They set an “outperform” rating and a $60.00 price target for the company.

View Our Latest Research Report on Harmony Biosciences

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $42.02 on Monday. Harmony Biosciences has a one year low of $25.52 and a one year high of $43.49. The company’s 50 day moving average price is $38.57 and its 200 day moving average price is $33.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 0.39 and a beta of 0.93.

Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The firm had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $250.77 million. During the same period in the previous year, the company posted $0.92 earnings per share. Harmony Biosciences’s revenue was up 30.3% compared to the same quarter last year. On average, sell-side analysts predict that Harmony Biosciences will post 3.77 EPS for the current year.

Insider Buying and Selling

In other Harmony Biosciences news, insider Kumar Budur sold 35,852 shares of the company’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $43.05, for a total value of $1,543,428.60. Following the completion of the transaction, the insider directly owned 13,115 shares of the company’s stock, valued at $564,600.75. This represents a 73.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 72,406 shares of company stock valued at $3,108,520. Insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HRMY. IFP Advisors Inc increased its holdings in shares of Harmony Biosciences by 4.6% during the second quarter. IFP Advisors Inc now owns 8,102 shares of the company’s stock valued at $295,000 after purchasing an additional 353 shares during the period. Allworth Financial LP grew its position in Harmony Biosciences by 286.7% in the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after buying an additional 602 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Harmony Biosciences by 589.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after acquiring an additional 643 shares during the period. Clearstead Advisors LLC increased its position in shares of Harmony Biosciences by 145.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after purchasing an additional 699 shares during the period. Finally, Illinois Municipal Retirement Fund raised its position in Harmony Biosciences by 3.8% in the first quarter. Illinois Municipal Retirement Fund now owns 20,020 shares of the company’s stock worth $561,000 after acquiring an additional 727 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Company Profile

(Get Free Report)

Harmony Biosciences Holdings, Inc is a commercial-stage pharmaceutical company focused on developing and commercializing therapies for patients with rare neurological disorders. The company was founded in 2017 and is headquartered in Plymouth Meeting, Pennsylvania, with an emphasis on conditions that are often underserved by traditional pharmaceutical research.

Harmony’s principal product is WAKIX (pitolisant), a first-in-class histamine H3 receptor antagonist/inverse agonist approved by the U.S.

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