Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $42.50.
A number of research firms have recently weighed in on HRMY. Truist Financial upped their price objective on Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Weiss Ratings upgraded Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. HC Wainwright reissued a “buy” rating and set a $55.00 target price on shares of Harmony Biosciences in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Tuesday, June 30th. Finally, Zacks Research upgraded Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th.
Check Out Our Latest Research Report on HRMY
Harmony Biosciences Stock Performance
Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The business had revenue of $215.39 million for the quarter, compared to analyst estimates of $220.84 million. During the same quarter last year, the company earned $0.78 earnings per share. Harmony Biosciences’s quarterly revenue was up 16.6% compared to the same quarter last year. Equities research analysts predict that Harmony Biosciences will post 3.3 EPS for the current fiscal year.
Hedge Funds Weigh In On Harmony Biosciences
Institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi lifted its stake in 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 acquiring an additional 21,266 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Harmony Biosciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock worth $752,000 after acquiring an additional 984 shares in the last quarter. Empowered Funds LLC acquired a new position in Harmony Biosciences during the 1st quarter worth approximately $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Harmony Biosciences by 53.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company’s stock valued at $3,166,000 after purchasing an additional 33,058 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Harmony Biosciences by 9.8% in the 2nd quarter. Cetera Investment Advisers now owns 8,404 shares of the company’s stock valued at $266,000 after purchasing an additional 748 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.
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.
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