Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY – Get Free Report) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $47.1111.
A number of analysts have recently issued reports on HRMY shares. UBS Group restated a “neutral” rating and set a $37.00 price target on shares of Harmony Biosciences in a report on Wednesday, August 5th. Wall Street Zen raised shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Oppenheimer reiterated an “outperform” rating and issued a $70.00 target price on shares of Harmony Biosciences in a report on Tuesday, August 4th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a report on Thursday, July 16th. Finally, Zacks Research downgraded shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th.
Harmony Biosciences Stock Up 0.1%
Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $250.77 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Harmony Biosciences’s quarterly revenue was up 30.3% on a year-over-year basis. As a group, equities analysts anticipate that Harmony Biosciences will post 3.77 earnings per share for the current year.
Insiders Place Their Bets
In related news, insider Kumar Budur sold 28,454 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $42.96, for a total value of $1,222,383.84. Following the completion of the transaction, the insider directly owned 13,115 shares of the company’s stock, valued at $563,420.40. This represents a 68.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.00% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Harmony Biosciences
Several large investors have recently bought and sold shares of HRMY. EverSource Wealth Advisors LLC boosted its position in shares of Harmony Biosciences by 589.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after purchasing an additional 643 shares during the period. Leonteq Securities AG purchased a new position in Harmony Biosciences in the 4th quarter valued at $30,000. Allworth Financial LP lifted its position in Harmony Biosciences by 286.7% in the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after purchasing an additional 602 shares during the period. Nykredit A S acquired a new stake in shares of Harmony Biosciences in the 2nd quarter valued at approximately $33,000. Finally, Clearstead Advisors LLC grew its holdings in Harmony Biosciences by 145.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after acquiring an additional 699 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.
Harmony Biosciences Company Profile
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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