Harmony Biosciences (NASDAQ:HRMY – Free Report) had its price objective raised by Truist Financial from $25.00 to $29.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.
A number of other equities analysts also recently commented on the company. Zacks Research upgraded Harmony Biosciences from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. Wall Street Zen cut Harmony Biosciences from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Bank of America cut their target price on Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings cut Harmony Biosciences from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. Finally, HC Wainwright reissued a “buy” rating and set a $55.00 target price on shares of Harmony Biosciences in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Harmony Biosciences currently has a consensus rating of “Hold” and a consensus price target of $40.89.
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Harmony Biosciences Price Performance
Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The company had revenue of $215.39 million for the quarter, compared to analysts’ expectations of $220.84 million. During the same quarter in the previous year, the business posted $0.78 EPS. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, analysts predict that Harmony Biosciences will post 3.29 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. Public Sector Pension Investment Board increased its position in shares of Harmony Biosciences by 41.6% during the third quarter. Public Sector Pension Investment Board now owns 185,803 shares of the company’s stock worth $5,121,000 after purchasing an additional 54,605 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Harmony Biosciences by 39.3% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 234,779 shares of the company’s stock worth $6,471,000 after purchasing an additional 66,236 shares in the last quarter. American Century Companies Inc. increased its position in shares of Harmony Biosciences by 11.2% during the third quarter. American Century Companies Inc. now owns 1,669,565 shares of the company’s stock worth $46,013,000 after purchasing an additional 168,145 shares in the last quarter. LSV Asset Management increased its position in shares of Harmony Biosciences by 7.1% during the third quarter. LSV Asset Management now owns 1,594,893 shares of the company’s stock worth $43,955,000 after purchasing an additional 106,391 shares in the last quarter. Finally, Ruffer LLP acquired a new stake in shares of Harmony Biosciences during the fourth quarter worth about $1,536,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.
Key Stories Impacting Harmony Biosciences
Here are the key news stories impacting Harmony Biosciences this week:
- Positive Sentiment: Harmony Biosciences reaffirmed 2026 net revenue guidance of over $1 billion and said demand for WAKIX remained strong, which helps support the long-term outlook. Business Wire article
- Positive Sentiment: H.C. Wainwright reiterated a Buy rating and a $55 price target, citing positive discussions with senior management and reinforcing bullish sentiment on the stock. InsiderMonkey article
- Neutral Sentiment: Several articles noted Harmony Biosciences as a small-cap value name with a relatively low forward P/E, which may attract value investors but does not directly change the near-term earnings picture. InsiderMonkey article
- Neutral Sentiment: Truist raised its price target to $29 from $25 but kept a Hold rating, suggesting only limited upside from current levels. Tickerreport article
- Negative Sentiment: Q1 earnings of $0.55 per share missed estimates of $0.76, and revenue of $215.4 million also came in below expectations, which is the main reason shares are under pressure today. Zacks article
- Negative Sentiment: Management said Q1 market access headwinds were more pronounced this year, which may raise investor concerns about near-term execution even with strong year-over-year revenue growth. Business Wire article
Harmony Biosciences Company Profile
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.
Further Reading
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