Harmony Biosciences (NASDAQ:HRMY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The firm presently has a $41.00 target price on the stock. Zacks Investment Research‘s target price points to a potential upside of 3.80% from the stock’s current price.
According to Zacks, “Harmony Biosciences Holdings Inc.is a pharmaceutical company. It engages in developing and commercializing therapies for rare neurological disorders. Harmony Biosciences Holdings Inc.is based in Plymouth Meeting, Pennsylvania. “
Separately, ValuEngine cut Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Thursday, October 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Harmony Biosciences presently has a consensus rating of “Buy” and an average target price of $49.00.
Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, November 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.09). The business had revenue of $45.61 million for the quarter, compared to the consensus estimate of $40.10 million. As a group, research analysts expect that Harmony Biosciences will post -0.58 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Caas Capital Management LP acquired a new stake in shares of Harmony Biosciences during the 3rd quarter worth about $203,000. Squarepoint Ops LLC purchased a new position in shares of Harmony Biosciences during the third quarter valued at approximately $355,000. California Public Employees Retirement System acquired a new stake in Harmony Biosciences during the third quarter worth approximately $413,000. ExodusPoint Capital Management LP acquired a new stake in Harmony Biosciences during the third quarter worth approximately $653,000. Finally, TD Asset Management Inc. purchased a new stake in Harmony Biosciences in the 3rd quarter worth approximately $798,000. 0.78% of the stock is currently owned by institutional investors.
Harmony Biosciences Company Profile
Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients living with rare neurological disorders. Its lead product includes WAKIX (pitolisant) for the treatment of pediatric patients suffering from narcolepsy. Harmony Biosciences Holdings, Inc was formerly known as Harmony Biosciences II, Inc and changed its name to Harmony Biosciences Holdings, Inc in February 2020.
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