Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Receives Average Rating of “Moderate Buy” from Brokerages

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $45.50.

Several analysts have recently commented on the stock. Needham & Company LLC lowered their price target on shares of Harmony Biosciences from $48.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Truist Financial assumed coverage on shares of Harmony Biosciences in a research report on Monday, July 21st. They issued a “buy” rating and a $48.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Harmony Biosciences in a research report on Saturday, September 27th. Mizuho lowered their price target on shares of Harmony Biosciences from $50.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. Finally, HC Wainwright lowered their price target on shares of Harmony Biosciences from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th.

Harmony Biosciences Trading Up 1.9%

NASDAQ HRMY opened at $27.28 on Monday. The stock has a market capitalization of $1.57 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.33 and a beta of 0.79. Harmony Biosciences has a 52-week low of $26.26 and a 52-week high of $41.61. The firm has a 50-day moving average price of $33.98 and a 200 day moving average price of $33.12. The company has a quick ratio of 3.80, a current ratio of 3.84 and a debt-to-equity ratio of 0.20.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.10). Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The firm had revenue of $200.49 million for the quarter, compared to analysts’ expectations of $204.37 million. During the same period in the prior year, the company earned $1.05 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. Harmony Biosciences has set its FY 2025 guidance at EPS. Equities research analysts expect that Harmony Biosciences will post 2.43 EPS for the current year.

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds have recently made changes to their positions in the business. Financial Management Professionals Inc. purchased a new stake in Harmony Biosciences during the 1st quarter worth $29,000. Brooklyn Investment Group boosted its holdings in shares of Harmony Biosciences by 1,031.9% in the 1st quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock valued at $35,000 after buying an additional 970 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Harmony Biosciences by 4,185.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock valued at $37,000 after buying an additional 1,130 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Harmony Biosciences in the 1st quarter valued at about $57,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Harmony Biosciences by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock valued at $70,000 after purchasing an additional 299 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

About Harmony Biosciences

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.