Harmony Biosciences (NASDAQ:HRMY) Given New $51.00 Price Target at Mizuho

by · The Markets Daily

Harmony Biosciences (NASDAQ:HRMY – Free Report) had its price objective raised by Mizuho from $50.00 to $51.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price target on Harmony Biosciences from $30.00 to $36.00 and gave the company a “hold” rating in a report on Tuesday, June 30th. Truist Financial increased their price objective on Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a report on Thursday, July 16th. Zacks Research upgraded shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Weiss Ratings raised shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Harmony Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $42.62.

Get Our Latest Research Report on HRMY

Harmony Biosciences Trading Down 1.7%

Shares of Harmony Biosciences stock opened at $35.24 on Friday. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 14.21, a price-to-earnings-growth ratio of 0.33 and a beta of 0.94. Harmony Biosciences has a 52-week low of $25.52 and a 52-week high of $40.87. The company’s 50-day simple moving average is $34.48 and its 200-day simple moving average is $32.56. The company has a quick ratio of 3.56, a current ratio of 3.58 and a debt-to-equity ratio of 0.15.

Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The firm had revenue of $215.39 million during the quarter, compared to analyst estimates of $220.84 million. During the same quarter in the previous year, the business earned $0.78 EPS. Harmony Biosciences’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities research analysts anticipate that Harmony Biosciences will post 3.3 earnings per share for the current year.

Hedge Funds Weigh In On Harmony Biosciences

Several hedge funds have recently added to or reduced their stakes in HRMY. Amundi raised its position in Harmony Biosciences by 115.6% during the first quarter. Amundi now owns 39,668 shares of the company’s stock worth $1,229,000 after acquiring an additional 21,266 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Harmony Biosciences by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock valued at $752,000 after purchasing an additional 984 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Harmony Biosciences in the first quarter valued at approximately $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Harmony Biosciences by 53.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company’s stock worth $3,166,000 after purchasing an additional 33,058 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of Harmony Biosciences by 9.8% during the 2nd quarter. Cetera Investment Advisers now owns 8,404 shares of the company’s stock worth $266,000 after purchasing an additional 748 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Company Profile

(Get Free Report)

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.

Recommended Stories