Harmony Biosciences (NASDAQ:HRMY) Stock Rating Upgraded by Zacks Research

Harmony Biosciences (NASDAQ:HRMY) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

HRMY has been the subject of a number of other research reports. Truist Financial lifted their target price on shares of Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. HC Wainwright reiterated a “buy” rating on shares of Harmony Biosciences in a research report on Wednesday, June 24th. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Harmony Biosciences has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $34.81 on Monday. The stock has a fifty day moving average price of $33.32 and a 200 day moving average price of $32.76. 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 stock has a market cap of $2.02 billion, a PE ratio of 14.04, a P/E/G ratio of 0.33 and a beta of 0.94. Harmony Biosciences has a 1 year low of $25.52 and a 1 year high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). The firm had revenue of $215.39 million during the quarter, compared to analysts’ expectations of $220.84 million. Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. Sell-side analysts forecast that Harmony Biosciences will post 3.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ruffer LLP acquired a new stake in shares of Harmony Biosciences during the fourth quarter valued at about $1,536,000. CX Institutional boosted its holdings in Harmony Biosciences by 19.7% in the fourth quarter. CX Institutional now owns 275,809 shares of the company’s stock valued at $10,321,000 after purchasing an additional 45,376 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in Harmony Biosciences during the 4th quarter valued at approximately $3,327,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Harmony Biosciences during the 4th quarter valued at approximately $655,000. Finally, SG Americas Securities LLC increased its holdings in Harmony Biosciences by 4,102.4% during the 4th quarter. SG Americas Securities LLC now owns 961,667 shares of the company’s stock worth $35,986,000 after purchasing an additional 938,783 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 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.