The stock of Harmony Biosciences Holdings Inc. (NASDAQ:HRMY) last traded at $49.64, up 1.22% from the previous session.
Data from the available sources indicates that Harmony Biosciences Holdings Inc. (NASDAQ:HRMY) is covered by 8 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $71.00 and a low of $52.00, we find $68.50. Given the previous closing price of $49.04, this indicates a potential upside of 39.68 percent. HRMY stock price is now -11.57% away from the 50-day moving average and 0.04% away from the 200-day moving average. The market capitalization of the company currently stands at $2.96B.
In total, 1 analysts have assigned it a hold rating, and 6 have given it a buy rating. Brokers who have rated the stock have averaged $65.88 as their price target over the next twelve months.
With the price target enhanced from $57 to $61, Jefferies Upgraded its rating from Hold to Buy for Harmony Biosciences Holdings Inc. (NASDAQ: HRMY). On October 14, 2022, Janney Upgraded its previous ‘Neutral’ rating to ‘Buy’ on the stock increasing its target price from $57 to quote $61, while ‘Jefferies’ rates the stock as ‘Hold’.
In other news, Nielsen Jack, Director sold 2,834 shares of the company’s stock on Dec 14. The stock was sold for $169,927 at an average price of $59.96. Upon completion of the transaction, the Director now directly owns 2,571,024 shares in the company, valued at $127.63 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 14, Director Wicki Andreas sold 130 shares of the business’s stock. A total of $7,800 was realized by selling the stock at an average price of $60.00. This leaves the insider owning 2,147,943 shares of the company worth $106.62 million. Insiders disposed of 4,436,287 shares of company stock worth roughly $220.22 million over the past 1 year. A total of 1.73% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HRMY stock. A new stake in Harmony Biosciences Holdings Inc. shares was purchased by JACOBS LEVY EQUITY MANAGEMENT, INC during the first quarter worth $20,907,000. OCTAGON CAPITAL ADVISORS LP invested $12,087,000 in shares of HRMY during the first quarter. In the first quarter, HBK SORCE ADVISORY LLC acquired a new stake in Harmony Biosciences Holdings Inc. valued at approximately $9,928,000. ROOSEVELT INVESTMENT GROUP LLC acquired a new stake in HRMY for approximately $9,634,000. PENN CAPITAL MANAGEMENT COMPANY, LLC purchased a new stake in HRMY valued at around $6,584,000 in the second quarter. In total, there are 284 active investors with 93.10% ownership of the company’s stock.
With an opening price of $49.10 on Wednesday morning, Harmony Biosciences Holdings Inc. (NASDAQ: HRMY) set off the trading day. During the past 12 months, Harmony Biosciences Holdings Inc. has had a low of $31.54 and a high of $62.08. As of last week, the company has a debt-to-equity ratio of 0.56, a current ratio of 3.60, and a quick ratio of 3.50. The fifty day moving average price for HRMY is $56.13 and a two-hundred day moving average price translates $49.62 for the stock.
The latest earnings results from Harmony Biosciences Holdings Inc. (NASDAQ: HRMY) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at $0.39, missing analysts’ expectations of $0.44 by -0.05. This compares to -$0.17 EPS in the same period last year. The net profit margin was 38.80% and return on equity was 62.80% for HRMY. The company reported revenue of $117.21 million for the quarter, compared to $80.73 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 45.18 percent. For the current quarter, analysts expect HRMY to generate $113.54M in revenue.
Harmony Biosciences Holdings Inc.(HRMY) Company Profile
Harmony Biosciences Holdings, Inc., a commercial-stage pharmaceutical company, develops and commercializes therapies for patients with rare neurological disorders in the United States. Its product, WAKIX is a medication for the treatment of excessive daytime sleepiness in adult patients with narcolepsy. The company was formerly known as Harmony Biosciences II, Inc. and changed its name to Harmony Biosciences Holdings, Inc. in February 2020. Harmony Biosciences Holdings, Inc. was incorporated in 2017 and is based in Plymouth Meeting, Pennsylvania.