Harmony Biosciences Holdings Stock Market Value
| HRMY Stock | USD 28.85 0.50 1.70% |
| Symbol | Harmony |
Harmony Biosciences Price To Book Ratio
Is Harmony Biosciences' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Harmony Biosciences. If investors know Harmony will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Harmony Biosciences listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.43) | Earnings Share 2.13 | Revenue Per Share 9.787 | Quarterly Revenue Growth 0.313 | Return On Assets 0.1616 |
The market value of Harmony Biosciences is measured differently than its book value, which is the value of Harmony that is recorded on the company's balance sheet. Investors also form their own opinion of Harmony Biosciences' value that differs from its market value or its book value, called intrinsic value, which is Harmony Biosciences' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Harmony Biosciences' market value can be influenced by many factors that don't directly affect Harmony Biosciences' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Harmony Biosciences' value and its price as these two are different measures arrived at by different means. Investors typically determine if Harmony Biosciences is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Harmony Biosciences' price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Harmony Biosciences 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Harmony Biosciences' stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Harmony Biosciences.
| 05/05/2022 |
| 04/24/2024 |
If you would invest 0.00 in Harmony Biosciences on May 5, 2022 and sell it all today you would earn a total of 0.00 from holding Harmony Biosciences Holdings or generate 0.0% return on investment in Harmony Biosciences over 720 days. Harmony Biosciences is related to or competes with Silver Spike, Alkermes Plc, Eagle Pharmaceuticals, and Evotec SE. Harmony Biosciences Holdings, Inc., a commercial-stage pharmaceutical company, develops and commercializes therapies for... More
Harmony Biosciences Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Harmony Biosciences' stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Harmony Biosciences Holdings upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.07) | |||
| Maximum Drawdown | 12.07 | |||
| Value At Risk | (4.70) | |||
| Potential Upside | 4.68 |
Harmony Biosciences Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Harmony Biosciences' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Harmony Biosciences' standard deviation. In reality, there are many statistical measures that can use Harmony Biosciences historical prices to predict the future Harmony Biosciences' volatility.| Risk Adjusted Performance | (0.01) | |||
| Jensen Alpha | (0.24) | |||
| Total Risk Alpha | (0.45) | |||
| Treynor Ratio | (0.06) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Harmony Biosciences' price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Harmony Biosciences Backtested Returns
Harmony Biosciences holds Efficiency (Sharpe) Ratio of -0.0298, which attests that the entity had a -0.0298% return per unit of risk over the last 3 months. Harmony Biosciences exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Harmony Biosciences' Standard Deviation of 2.71, risk adjusted performance of (0.01), and Market Risk Adjusted Performance of (0.05) to validate the risk estimate we provide. The company retains a Market Volatility (i.e., Beta) of 1.74, which attests to a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Harmony Biosciences will likely underperform. Harmony Biosciences has an expected return of -0.0814%. Please make sure to check out Harmony Biosciences total risk alpha, accumulation distribution, as well as the relationship between the Accumulation Distribution and period momentum indicator , to decide if Harmony Biosciences performance from the past will be repeated at some point in the near future.
Auto-correlation | -0.3 |
Weak reverse predictability
Harmony Biosciences Holdings has weak reverse predictability. Overlapping area represents the amount of predictability between Harmony Biosciences time series from 5th of May 2022 to 30th of April 2023 and 30th of April 2023 to 24th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Harmony Biosciences price movement. The serial correlation of -0.3 indicates that nearly 30.0% of current Harmony Biosciences price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.3 | |
| Spearman Rank Test | 0.05 | |
| Residual Average | 0.0 | |
| Price Variance | 15.57 |
Harmony Biosciences lagged returns against current returns
Autocorrelation, which is Harmony Biosciences stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Harmony Biosciences' stock expected returns. We can calculate the autocorrelation of Harmony Biosciences returns to help us make a trade decision. For example, suppose you find that Harmony Biosciences has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Harmony Biosciences regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Harmony Biosciences stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Harmony Biosciences stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Harmony Biosciences stock over time.
Current vs Lagged Prices |
| Timeline |
Harmony Biosciences Lagged Returns
When evaluating Harmony Biosciences' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Harmony Biosciences stock have on its future price. Harmony Biosciences autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Harmony Biosciences autocorrelation shows the relationship between Harmony Biosciences stock current value and its past values and can show if there is a momentum factor associated with investing in Harmony Biosciences Holdings.
Regressed Prices |
| Timeline |
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Complementary Tools for Harmony Stock analysis
When running Harmony Biosciences' price analysis, check to measure Harmony Biosciences' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Harmony Biosciences is operating at the current time. Most of Harmony Biosciences' value examination focuses on studying past and present price action to predict the probability of Harmony Biosciences' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Harmony Biosciences' price. Additionally, you may evaluate how the addition of Harmony Biosciences to your portfolios can decrease your overall portfolio volatility.
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Harmony Biosciences technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.