Streetbeat News

HRMY

Harmony Biosciences Holdings, Inc.

https://www.harmonybiosciences.com

Industry

Biotechnology

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.

Open

34.52

Mkt cap

Volume

220K

High

35.37

P/E Ratio

16.50

52-wk high

41.61

Low

34.28

Div yield

N/A

52-wk low

22.89

Over the past three months, 7 analysts have shared their insights on Harmony Biosciences (NASDAQ:HRMY), with ratings ranging from bullish to somewhat bullish. The average 12-month price target is $49.71, slightly down from the previous $50.00. Analysts have maintained or raised their ratings, reflecting positive sentiment. Harmony Biosciences has shown strong revenue growth and profitability but faces challenges in return on equity.

Portfolio Pulse from Benzinga Insights

June 21, 2024 | 5:00 pm

Citigroup analyst David Hoang has initiated coverage on Harmony Biosciences (NASDAQ:HRMY) with a Buy rating and a price target of $48.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 2:27 pm

Harmony Biosciences (NASDAQ:HRMY) reported positive data from its Phase 2 study on pitolisant, showing significant reduction in excessive daytime sleepiness and fatigue in adults with Myotonic dystrophy Type 1.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2024 | 12:26 pm

Roy Bingham, CEO of BDSA, projects the U.S. cannabis market to reach nearly $46 billion by 2028, driven by adult-use and medical market expansion. The DEA's reclassification of cannabis to Schedule III is expected to spur medical research and investment, with significant growth anticipated in pharmaceutical applications and medical cannabis products. This rescheduling may reduce financial pressures on cannabis businesses and attract investment from healthcare and pharmaceutical companies. Despite federal restrictions, the shift is seen as an opportunity for healthcare and pharmaceutical industries to invest in cannabinoid research, potentially impacting medication use and fostering innovation in the sector.

Portfolio Pulse from Nicolás Jose Rodriguez

May 14, 2024 | 5:32 pm

Needham analyst Ami Fadia maintains a Buy rating on Harmony Biosciences (HRMY) and raises the price target from $50 to $52.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 9:34 am

Harmony Biosciences Holdings' shares surged following the announcement of better-than-expected Q1 adjusted EPS results and the acquisition of Epygenix Therapeutics.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:01 pm

Harmony Biosciences (NASDAQ:HRMY) announced the acquisition of Epygenix Therapeutics, expanding its CNS-focused pipeline with a rare epilepsy franchise. The deal includes up to $645 million in milestone payments. Harmony reported Q1 earnings with an EPS of $0.88, beating the consensus of $0.62, and sales of $154.6 million. The company reaffirmed its 2024 revenue guidance of $700 million to $720 million. HRMY shares rose 9.79% to $32.11.

Portfolio Pulse from Vandana Singh

April 30, 2024 | 3:44 pm

Harmony Biosciences (NASDAQ: HRMY) has received varied analyst ratings over the past three months, with a consensus leaning towards bullish. The average 12-month price target for HRMY has been raised to $48.2, indicating a positive outlook from analysts. The company has shown strong financial health with a notable revenue growth rate of 31.26%, a net margin of 15.8%, and an ROA of 3.35%, despite an ROE below industry standards. Harmony Biosciences specializes in therapies for rare neurological diseases, with WAKIX as its leading product.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 1:00 pm

Needham analyst Ami Fadia reiterated a Buy rating on Harmony Biosciences (NASDAQ:HRMY) and maintained a $50 price target.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:16 pm

Harmony Biosciences acquires Epygenix Therapeutics for $35M, with potential development and sales milestone payments totaling $645M. EPX-100, their lead candidate for rare epilepsy conditions, is in a pivotal trial with topline data expected in 2026, indicating a significant market opportunity.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 11:14 am

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.