Harmony Biosciences Holdings Inc. [NASDAQ: HRMY] loss -25.78% or -10.7 points to close at $30.80 with a heavy trading volume of 12379370 shares. The company report on March 6, 2023 that HARMONY BIOSCIENCES TO PARTICIPATE IN UPCOMING INVESTOR CONFERENCES.
Harmony Biosciences Holdings, Inc. (“Harmony” or the “Company”) (Nasdaq: HRMY), a pharmaceutical company dedicated to developing and commercializing innovative therapies for patients with rare neurological diseases, today announced that Harmony’s management team will participate in the following upcoming investor conferences:.
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It opened the trading session at $34.00, the shares rose to $34.16 and dropped to $29.81, the range by which the price of stock traded the whole day. The daily chart for HRMY points out that the company has recorded -26.77% loss over the past six months. However, it is still 6.78% lower than its most recent low trading price.
If we look at the average trading volume of 626.78K shares, HRMY reached to a volume of 12379370 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Harmony Biosciences Holdings Inc. [HRMY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HRMY shares is $63.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HRMY stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Harmony Biosciences Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 14, 2022. While these analysts kept the previous recommendation, Janney raised their target price from $57 to $61. The new note on the price target was released on October 14, 2022, representing the official price target for Harmony Biosciences Holdings Inc. stock. Previously, the target price had yet another raise to $57, while Jefferies analysts kept a Hold rating on HRMY stock.
The Average True Range (ATR) for Harmony Biosciences Holdings Inc. is set at 2.57, with the Price to Sales ratio for HRMY stock in the period of the last 12 months amounting to 4.20. The Price to Book ratio for the last quarter was 4.54, with the Price to Cash per share for the same quarter was set at 5.40. Price to Free Cash Flow for HRMY in the course of the last twelve months was 12.76 with Quick ratio for the last quarter at 5.00.
Trading performance analysis for HRMY stock
Harmony Biosciences Holdings Inc. [HRMY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -30.00. With this latest performance, HRMY shares dropped by -31.19% in over the last four-week period, additionally sinking by -26.77% over the last 6 months – not to mention a drop of -39.76% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HRMY stock in for the last two-week period is set at 17.57, with the RSI for the last a single of trading hit 12.73, and the three-weeks RSI is set at 21.68 for Harmony Biosciences Holdings Inc. [HRMY]. The present Moving Average for the last 50 days of trading for this stock 45.51, while it was recorded at 39.60 for the last single week of trading, and 49.87 for the last 200 days.
Harmony Biosciences Holdings Inc. [HRMY]: A deeper dive into fundamental analysis
Harmony Biosciences Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.00 and a Current Ratio set at 5.10.
An analysis of insider ownership at Harmony Biosciences Holdings Inc. [HRMY]
There are presently around $2,144 million, or 93.10% of HRMY stock, in the hands of institutional investors. The top three institutional holders of HRMY stocks are: VALOR MANAGEMENT LLC with ownership of 11,218,033, which is approximately 0% of the company’s market cap and around 1.73% of the total institutional ownership; FMR LLC, holding 5,582,728 shares of the stock with an approximate value of $231.68 million in HRMY stocks shares; and BLACKROCK INC., currently with $202.1 million in HRMY stock with ownership of nearly 1.409% of the company’s market capitalization.
151 institutional holders increased their position in Harmony Biosciences Holdings Inc. [NASDAQ:HRMY] by around 5,019,650 shares. Additionally, 81 investors decreased positions by around 3,441,678 shares, while 23 investors held positions by with 43,203,474 shares. The mentioned changes placed institutional holdings at 51,664,802 shares, according to the latest SEC report filing. HRMY stock had 56 new institutional investments in for a total of 2,261,668 shares, while 15 institutional investors sold positions of 426,080 shares during the same period.