Harmony Biosciences (NASDAQ:HRMY) Stock Rating Lowered by Wall Street Zen

Harmony Biosciences (NASDAQ:HRMY) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Several other brokerages have also recently issued reports on HRMY. The Goldman Sachs Group started coverage on shares of Harmony Biosciences in a research note on Thursday, July 10th. They set a “neutral” rating and a $33.00 price objective for the company. Needham & Company LLC lowered their price target on Harmony Biosciences from $48.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. UBS Group cut their price objective on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Truist Financial initiated coverage on 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, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Harmony Biosciences from $54.00 to $36.00 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 given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Harmony Biosciences currently has an average rating of “Moderate Buy” and an average target price of $45.56.

Harmony Biosciences Trading Up 0.5%

NASDAQ HRMY opened at $26.02 on Friday. The company has a market cap of $1.50 billion, a P/E ratio of 8.39, a P/E/G ratio of 0.32 and a beta of 0.79. Harmony Biosciences has a 12 month low of $25.52 and a 12 month high of $41.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.84 and a quick ratio of 3.80. The company has a 50-day moving average of $32.11 and a 200-day moving average of $32.64.

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

Institutional Trading of Harmony Biosciences

A number of hedge funds have recently made changes to their positions in the stock. Boston Partners acquired a new stake in Harmony Biosciences in the second quarter valued at $19,398,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Harmony Biosciences by 127.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company’s stock valued at $28,658,000 after purchasing an additional 508,498 shares in the last quarter. New Vernon Capital Holdings II LLC lifted its position in shares of Harmony Biosciences by 3,219.0% during the first quarter. New Vernon Capital Holdings II LLC now owns 488,424 shares of the company’s stock worth $16,211,000 after purchasing an additional 473,708 shares during the last quarter. Nomura Holdings Inc. grew its stake in Harmony Biosciences by 382.3% in the second quarter. Nomura Holdings Inc. now owns 422,919 shares of the company’s stock worth $13,364,000 after purchasing an additional 335,237 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Harmony Biosciences by 36.3% in the second quarter. Marshall Wace LLP now owns 1,209,484 shares of the company’s stock valued at $38,220,000 after buying an additional 321,947 shares during the last quarter. 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.