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 published on Saturday morning.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group began coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They set a “neutral” rating and a $33.00 price objective for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $55.00 price target (up previously from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. Truist Financial assumed coverage on shares of Harmony Biosciences in a research note on Monday, July 21st. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, Oppenheimer started coverage on Harmony Biosciences in a research note on Monday, June 2nd. They set an “outperform” rating and a $61.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $51.00.

Harmony Biosciences Stock Down 0.4%

Shares of HRMY opened at $32.42 on Friday. The company has a current ratio of 3.84, a quick ratio of 3.80 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $1.87 billion, a PE ratio of 10.46, a P/E/G ratio of 0.38 and a beta of 0.84. The firm’s 50 day moving average is $35.49 and its 200-day moving average is $33.52. Harmony Biosciences has a 12 month low of $26.47 and a 12 month high of $41.61.

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

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its holdings in shares of Harmony Biosciences by 22.0% during the fourth quarter. Ameriprise Financial Inc. now owns 103,801 shares of the company’s stock worth $3,572,000 after purchasing an additional 18,730 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Harmony Biosciences by 30.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,667 shares of the company’s stock worth $746,000 after buying an additional 5,099 shares during the period. Nuveen Asset Management LLC grew its holdings in Harmony Biosciences by 4.0% during the 4th quarter. Nuveen Asset Management LLC now owns 212,351 shares of the company’s stock worth $7,307,000 after acquiring an additional 8,193 shares during the last quarter. ProShare Advisors LLC increased its position in Harmony Biosciences by 47.0% in the 4th quarter. ProShare Advisors LLC now owns 14,190 shares of the company’s stock valued at $488,000 after acquiring an additional 4,534 shares during the period. Finally, Rafferty Asset Management LLC acquired a new position in Harmony Biosciences in the 4th quarter valued at approximately $279,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

About Harmony Biosciences

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.