Harmony Biosciences (NASDAQ:HRMY) Price Target Raised to $51.00 at Mizuho

Harmony Biosciences (NASDAQ:HRMY) had its target price raised by equities research analysts at Mizuho from $50.00 to $51.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 46.64% from the company’s previous close.

Several other analysts have also recently commented on HRMY. HC Wainwright reiterated a “buy” rating and issued a $55.00 price objective on shares of Harmony Biosciences in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Tuesday, June 30th. Truist Financial increased their target price on shares of Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a report on Friday, May 8th. Zacks Research upgraded shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Weiss Ratings raised Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.62.

Harmony Biosciences Price Performance

NASDAQ:HRMY traded down $1.08 during trading hours on Friday, hitting $34.78. The company’s stock had a trading volume of 194,925 shares, compared to its average volume of 850,887. Harmony Biosciences has a 52-week low of $25.52 and a 52-week high of $40.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58. The business’s 50-day moving average is $34.38 and its two-hundred day moving average is $32.54. The company has a market capitalization of $2.01 billion, a PE ratio of 14.04, a PEG ratio of 0.33 and a beta of 0.94.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing the consensus estimate 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 firm posted $0.78 earnings per share. Harmony Biosciences’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, research analysts anticipate that Harmony Biosciences will post 3.3 EPS for the current fiscal year.

Institutional Trading of Harmony Biosciences

Several institutional investors and hedge funds have recently modified their holdings of HRMY. Dimensional Fund Advisors LP increased its stake in shares of Harmony Biosciences by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company’s stock worth $58,157,000 after purchasing an additional 245,784 shares in the last quarter. SG Americas Securities LLC grew its holdings in Harmony Biosciences by 109.9% during the 1st quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock valued at $56,529,000 after buying an additional 1,056,507 shares during the last quarter. State Street Corp increased its position in Harmony Biosciences by 0.5% during the fourth quarter. State Street Corp now owns 1,661,850 shares of the company’s stock worth $62,186,000 after buying an additional 8,246 shares in the last quarter. LSV Asset Management increased its position in Harmony Biosciences by 3.9% during the fourth quarter. LSV Asset Management now owns 1,657,093 shares of the company’s stock worth $62,008,000 after buying an additional 62,200 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Harmony Biosciences by 15.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,491,605 shares of the company’s stock worth $55,816,000 after acquiring an additional 196,224 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.