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

Harmony Biosciences (NASDAQ:HRMY) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Monday.

A number of other equities analysts also recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Harmony Biosciences in a report on Thursday, July 10th. They set a “neutral” rating and a $33.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. Truist Financial began coverage on shares of Harmony Biosciences in a report on Monday, July 21st. They set a “buy” rating and a $48.00 target price on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Harmony Biosciences in a report on Tuesday, October 14th. Finally, Needham & Company LLC decreased their price objective on shares of Harmony Biosciences from $48.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.56.

Harmony Biosciences Price Performance

Shares of HRMY opened at $30.25 on Monday. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 0.36 and a beta of 0.79. Harmony Biosciences has a 1-year low of $25.52 and a 1-year high of $41.61. The company’s fifty day simple moving average is $31.44 and its 200 day simple moving average is $32.63. The company has a current ratio of 3.84, a quick ratio of 3.80 and a debt-to-equity ratio of 0.20.

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

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in shares of Harmony Biosciences by 16.5% in the second quarter. American Century Companies Inc. now owns 1,501,420 shares of the company’s stock valued at $47,445,000 after acquiring an additional 212,633 shares in the last quarter. LSV Asset Management grew its stake in shares of Harmony Biosciences by 24.6% in the second quarter. LSV Asset Management now owns 1,488,502 shares of the company’s stock valued at $47,037,000 after acquiring an additional 293,541 shares in the last quarter. Marshall Wace LLP grew its stake in shares of 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 acquiring an additional 321,947 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Harmony Biosciences by 9.2% in the second quarter. Geode Capital Management LLC now owns 1,054,348 shares of the company’s stock valued at $33,321,000 after acquiring an additional 88,598 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Harmony Biosciences by 127.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company’s stock valued at $28,658,000 after acquiring an additional 508,498 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.