Harmony Biosciences Holdings Inc (NASDAQ: HRMY) stock jumped 2.97% on Monday to $27.77 against a previous-day closing price of $26.97. With 0.69 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.8 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $27.88 whereas the lowest price it dropped to was $27.10. The 52-week range on HRMY shows that it touched its highest point at $62.08 and its lowest point at $18.61 during that stretch. It currently has a 1-year price target of $40.78. Beta for the stock currently stands at 0.63.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HRMY was up-trending over the past week, with a rise of 14.61%, but this was up by 37.95% over a month. Three-month performance dropped to -14.87% while six-month performance fell -22.08%. The stock lost -50.46% in the past year, while it has lost -49.60% so far this year. A look at the trailing 12-month EPS for HRMY yields 2.47 with Next year EPS estimates of 3.33. For the next quarter, that number is 0.59. This implies an EPS growth rate of -19.53% for this year and 39.28% for next year.
Float and Shares Shorts:
At present, 59.62 million HRMY shares are outstanding with a float of 33.15 million shares on hand for trading. On Oct 30, 2023, short shares totaled 5.34 million, which was 9.11% higher than short shares on Sep 28, 2023. In addition to Mr. Jeffrey S. Aronin as the firm’s Founder & Non-Executive Chairman, Dr. Jeffrey M. Dayno M.D. serves as its President, CEO & Director.
Through their ownership of 90.63% of HRMY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.17% of HRMY, in contrast to 35.96% held by mutual funds. Shares owned by individuals account for 25.78%. As the largest shareholder in HRMY with 9.08% of the stake, Fidelity Management & Research Co holds 5,450,104 shares worth 5,450,104. A second-largest stockholder of HRMY, BlackRock Fund Advisors, holds 5,104,427 shares, controlling over 8.51% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in HRMY, holding 3,584,989 shares or 5.98% stake. With a 3.77% stake in HRMY, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 2,260,008 shares are owned by the mutual fund manager. The HBM Healthcare Investments, which owns about 3.58% of HRMY stock, is the second-largest Mutual Fund holder. It holds 2,149,109 shares valued at 50.59 million. Fidelity Growth Company Fund holds 2.93% of the stake in HRMY, owning 1,754,801 shares worth 41.31 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HRMY since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HRMY analysts setting a high price target of $56.00 and a low target of $25.00, the average target price over the next 12 months is $40.78. Based on these targets, HRMY could surge 101.66% to reach the target high and fall by -9.97% to reach the target low. Reaching the average price target will result in a growth of 46.85% from current levels.
Summary of Insider Activity:
Insiders traded HRMY stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 2 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 68,000 while 460,145 shares were sold.