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

Wall Street Zen upgraded shares of Harmony Biosciences (NASDAQ:HRMY) from a hold rating to a buy rating in a report published on Saturday morning.

Several other analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $39.00 price target on shares of Harmony Biosciences in a report on Wednesday. Mizuho raised their price objective on shares of Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Zacks Research raised shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. UBS Group restated a “neutral” rating and issued a $37.00 target price on shares of Harmony Biosciences in a research note on Wednesday. Finally, Weiss Ratings raised shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Harmony Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.50.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $38.41 on Friday. Harmony Biosciences has a fifty-two week low of $25.52 and a fifty-two week high of $40.87. The business has a 50 day moving average price of $35.19 and a two-hundred day moving average price of $32.61. The company has a quick ratio of 3.56, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.24 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.37 and a beta of 0.96.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. The company had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.Harmony Biosciences’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 EPS. Sell-side analysts expect that Harmony Biosciences will post 3.62 earnings per share for the current fiscal year.

Institutional Trading of Harmony Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of HRMY. EverSource Wealth Advisors LLC boosted its holdings in shares of Harmony Biosciences by 589.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after buying an additional 643 shares during the period. Allworth Financial LP raised its stake in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after acquiring an additional 602 shares during the period. Leonteq Securities AG bought a new position in Harmony Biosciences in the fourth quarter worth about $30,000. National Bank of Canada FI bought a new position in Harmony Biosciences in the third quarter worth about $40,000. Finally, Clearstead Advisors LLC boosted its stake in Harmony Biosciences by 145.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after acquiring an additional 699 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

About Harmony Biosciences

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.