HRMY FY2024 EPS Estimate Raised by Cantor Fitzgerald

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) – Equities research analysts at Cantor Fitzgerald increased their FY2024 EPS estimates for Harmony Biosciences in a research report issued on Wednesday, October 30th. Cantor Fitzgerald analyst C. Duncan now expects that the company will earn $2.53 per share for the year, up from their prior estimate of $2.52. Cantor Fitzgerald currently has a “Overweight” rating and a $58.00 target price on the stock. The consensus estimate for Harmony Biosciences’ current full-year earnings is $2.22 per share.

A number of other research firms also recently weighed in on HRMY. UBS Group assumed coverage on shares of Harmony Biosciences in a research report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a research note on Tuesday. Mizuho lifted their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Raymond James reissued an “outperform” rating and issued a $40.00 target price on shares of Harmony Biosciences in a report on Thursday, October 10th. Finally, Oppenheimer reissued an “outperform” rating and issued a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Harmony Biosciences Stock Up 3.0 %

Shares of HRMY stock opened at $33.08 on Thursday. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 0.67 and a beta of 0.73. Harmony Biosciences has a 12-month low of $22.89 and a 12-month high of $41.61. The firm has a fifty day moving average of $36.36 and a 200-day moving average of $33.10. The company has a quick ratio of 3.09, a current ratio of 3.24 and a debt-to-equity ratio of 0.28.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. During the same period last year, the business posted $0.63 earnings per share. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year.

Insider Transactions at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 21,496 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 30.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in HRMY. nVerses Capital LLC bought a new stake in shares of Harmony Biosciences during the 2nd quarter valued at $36,000. CWM LLC increased its holdings in Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after acquiring an additional 775 shares in the last quarter. Quarry LP purchased a new stake in Harmony Biosciences during the 2nd quarter valued at approximately $62,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Harmony Biosciences by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after acquiring an additional 360 shares during the last quarter. Finally, Headlands Technologies LLC lifted its position in Harmony Biosciences by 1,608.1% in the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock worth $77,000 after buying an additional 2,396 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

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.