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Major Improvements In Harmony Biosciences Holdings Inc. (HRMY) Stock Need To Be Considered

Harmony Biosciences Holdings Inc. (NASDAQ:HRMY) price on Friday, May 27, rose 2.66% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $43.64.

A look at the stock’s price movement, the close in the last trading session was $42.51, moving within a range at $42.35 and $44.25. The PE ratio in trailing twelve months stood at 54.28. Turning to its 52-week performance, $54.00 and $25.09 were the 52-week high and 52-week low respectively. Overall, HRMY moved -4.94% over the past month.

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Harmony Biosciences Holdings Inc.’s market cap currently stands at around $2.44 billion, with investors looking forward to this quarter’s earnings report slated for Mar 23, 2022 – Mar 28, 2022. Analysts project the company’s earnings per share (EPS) to be $0.42, which has seen fiscal year 2022 EPS growth forecast to increase to $1.76 and about $3.33 for fiscal year 2023. Per the data, EPS growth is expected to be 203.40% for 2022 and 89.20% for the next financial year.

Analysts have a consensus estimate of $100.85 million for the company’s revenue for the quarter, with a low and high estimate of $96.88 million and $105.9 million respectively. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $416.87 million, representing a 36.50% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that HRMY is a 50% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.

7 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 6 recommend HRMY as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

HRMY’s current price about 11.55% and -4.07% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 54.84, while 7-day volatility ratio is 5.26% and 7.14% in the 30-day chart. Further, Harmony Biosciences Holdings Inc. (HRMY) has a beta value of 0, and an average true range (ATR) of 2.76. Analysts have given the company’s stock an average 52-week price target of $57.43, forecast between a low of $55.00 and high of $63.00. Looking at the price targets, the low is -26.03% off current price level while to achieve the yearly target high, price needs to move -44.36%. Nonetheless, investors will most likely welcome a -30.61% jump to $57.00 which is the analysts’ median price.

In the market, a comparison of Harmony Biosciences Holdings Inc. (HRMY) and its peers suggest the former has performed considerably stronger. Data shows HRMY’s intraday price has changed 2.66% in last session and 36.55% over the past year. Comparatively, United Therapeutics Corporation (UTHR) has moved 4.92% on the day and only 26.86% in the past 12 months. Looking at another peer, we see that Biohaven Pharmaceutical Holding Company Ltd. (BHVN) price has gained 0.13% on the day. However, the stock is 64.79% off its price a year ago. Moreover, Organon & Co. (OGN) is also up 0.88% in trading on the day while keeping a an uptrend of 8.81% over the past year. If we look at the PE ratio, we find that Harmony Biosciences Holdings Inc.’s ratio stands at 54.28 compared to United Therapeutics Corporation’s 16.33. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 2.47% and 1.76% respectively in the last trading.

If we refocus on Harmony Biosciences Holdings Inc. (NASDAQ:HRMY), historical trading data shows that trading volumes averaged 568.87K over the past 3 months. The company’s latest data on shares outstanding shows there are 58.91 million shares.

The 0.40% of Harmony Biosciences Holdings Inc.’s shares are in the hands of company insiders while institutional holders own 86.30% of the company’s shares. Current price change has pushed the stock 2.35% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the HRMY stock continues to rise going into the next quarter.

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