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

Wall Street Zen upgraded shares of Harmony Biosciences (NASDAQ:HRMY) from a hold rating to a buy rating in a research note issued to investors on Monday.

A number of other equities analysts also recently weighed in on HRMY. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. Needham & Company LLC lowered their target price on shares of Harmony Biosciences from $48.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Harmony Biosciences in a research report on Tuesday, October 14th. Truist Financial assumed coverage on shares of Harmony Biosciences in a research report on Monday, July 21st. They set a “buy” rating and a $48.00 price objective for the company. Finally, HC Wainwright reduced their price objective on shares of Harmony Biosciences from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.13.

Harmony Biosciences Price Performance

Shares of HRMY opened at $29.32 on Monday. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.35 and a beta of 0.79. Harmony Biosciences has a 1-year low of $25.52 and a 1-year high of $40.93. The company’s fifty day simple moving average is $31.04 and its 200 day simple moving average is $32.64. The company has a current ratio of 3.84, a quick ratio of 3.80 and a debt-to-equity ratio of 0.20.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). The firm had revenue of $200.49 million for the quarter, compared to analyst estimates of $204.37 million. Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.Harmony Biosciences’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, research analysts forecast that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors have recently modified their holdings of HRMY. Brooklyn Investment Group boosted its position in shares of Harmony Biosciences by 1,031.9% in the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock valued at $35,000 after acquiring an additional 970 shares during the period. Parkside Financial Bank & Trust lifted its position in Harmony Biosciences by 4,185.2% during the second quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock worth $37,000 after purchasing an additional 1,130 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Harmony Biosciences during the first quarter worth about $57,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Harmony Biosciences by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock worth $70,000 after purchasing an additional 299 shares during the period. Finally, CWM LLC lifted its position in Harmony Biosciences by 34.8% during the first quarter. CWM LLC now owns 2,704 shares of the company’s stock worth $90,000 after purchasing an additional 698 shares during the period. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.