Harmony Biosciences (NASDAQ:HRMY) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Harmony Biosciences (NASDAQ:HRMY – Free Report) from a buy rating to a strong-buy rating in a report issued on Sunday morning.

A number of other brokerages have also commented on HRMY. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $39.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, August 5th. UBS Group reissued a “neutral” rating and set a $37.00 target price on shares of Harmony Biosciences in a research report on Wednesday, August 5th. HC Wainwright restated a “buy” rating and set a $55.00 price target on shares of Harmony Biosciences in a research note on Thursday, July 16th. Zacks Research cut Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Needham & Company LLC raised their price objective on Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.50.

View Our Latest Report on Harmony Biosciences

Harmony Biosciences Stock Up 1.8%

HRMY opened at $38.83 on Friday. The business has a 50 day moving average of $36.10 and a 200-day moving average of $32.69. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 0.35 and a beta of 0.96. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. Harmony Biosciences has a 1-year low of $25.52 and a 1-year high of $40.87.

Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.32. The business had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. Harmony Biosciences’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. As a group, sell-side analysts anticipate that Harmony Biosciences will post 3.77 earnings per share for the current year.

Hedge Funds Weigh In On Harmony Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Harmony Biosciences during the 2nd quarter valued at about $258,583,000. Dimensional Fund Advisors LP raised its position in Harmony Biosciences by 13.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company’s stock worth $58,157,000 after purchasing an additional 245,784 shares in the last quarter. SG Americas Securities LLC lifted its stake in Harmony Biosciences by 109.9% during the first quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after purchasing an additional 1,056,507 shares during the period. State Street Corp lifted its stake in Harmony Biosciences by 0.5% during the fourth quarter. State Street Corp now owns 1,661,850 shares of the company’s stock worth $62,186,000 after purchasing an additional 8,246 shares during the period. Finally, LSV Asset Management boosted its holdings in Harmony Biosciences by 3.9% during the fourth quarter. LSV Asset Management now owns 1,657,093 shares of the company’s stock valued at $62,008,000 after purchasing an additional 62,200 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

About Harmony Biosciences

(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.

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