Harmony Biosciences (NASDAQ:HRMY) Sets New 12-Month High at $39.46

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)’s share price 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 traded. The stock had previously closed at $38.91.

Wall Street Analysts Forecast Growth

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

Harmony Biosciences Stock Performance

The stock has a market cap of $2.21 billion, a P/E ratio of 16.84, a P/E/G ratio of 0.75 and a beta of 0.73. The firm has a 50 day moving average of $34.69 and a two-hundred day moving average of $32.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13.

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

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors have recently bought and sold shares of the business. TFO Wealth Partners LLC lifted its holdings in Harmony Biosciences by 98,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock valued at $32,000 after purchasing an additional 987 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Harmony Biosciences by 47.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $33,000 after buying an additional 329 shares during the last quarter. nVerses Capital LLC bought a new position in Harmony Biosciences in the 2nd quarter valued at about $36,000. Quarry LP acquired a new stake in Harmony Biosciences during the second quarter worth approximately $62,000. Finally, Headlands Technologies LLC increased its stake in shares of Harmony Biosciences by 1,608.1% during the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock worth $77,000 after purchasing an additional 2,396 shares during the period. Institutional investors and hedge funds 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.