Harmony Biosciences (NASDAQ:HRMY) Hits New 1-Year High at $39.46

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $39.46 and last traded at $39.33, with a volume of 21299 shares trading hands. The stock had previously closed at $38.91.

Analysts Set New Price Targets

Several research analysts have commented on the company. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a report on Thursday, September 12th. Citigroup began coverage on Harmony Biosciences in a research note on Friday, June 21st. They set a “buy” rating and a $48.00 price target on the stock. Finally, UBS Group started coverage on shares of Harmony Biosciences in a research note on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.33.

Harmony Biosciences Price Performance

The company has a market cap of $2.20 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 0.75 and a beta of 0.73. The company has a quick ratio of 3.09, a current ratio of 3.13 and a debt-to-equity ratio of 0.32. The firm has a 50 day simple moving average of $34.90 and a 200-day simple moving average of $32.10.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.24. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The firm had revenue of $172.80 million for the quarter, compared to the consensus estimate of $172.53 million. During the same quarter in the previous year, the firm earned $0.56 EPS. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. As a group, research analysts predict that Harmony Biosciences Holdings, Inc. will post 2.19 earnings per share for the current fiscal year.

Institutional Trading of Harmony Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hedeker Wealth LLC purchased a new stake in Harmony Biosciences in the first quarter valued at about $2,627,000. LSV Asset Management boosted its stake in Harmony Biosciences by 346.5% in the 1st quarter. LSV Asset Management now owns 335,146 shares of the company’s stock worth $11,254,000 after purchasing an additional 260,093 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Harmony Biosciences during the 4th quarter worth approximately $876,000. Rice Hall James & Associates LLC grew its position in Harmony Biosciences by 42.1% during the 2nd quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company’s stock worth $2,429,000 after purchasing an additional 23,867 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Harmony Biosciences by 54.1% during the 2nd quarter. Victory Capital Management Inc. now owns 84,964 shares of the company’s stock valued at $2,563,000 after purchasing an additional 29,816 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Company Profile

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.