Wall Street Zen Downgrades Harmony Biosciences (NASDAQ:HRMY) to Hold

Wall Street Zen downgraded shares of Harmony Biosciences (NASDAQ:HRMY) from a buy rating to a hold rating in a research report report published on Sunday morning.

Several other brokerages also recently issued reports on HRMY. Oppenheimer assumed coverage on shares of Harmony Biosciences in a research report on Monday, June 2nd. They set an “outperform” rating and a $61.00 price objective on the stock. Needham & Company LLC lowered their price target on Harmony Biosciences from $48.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Truist Financial initiated coverage on Harmony Biosciences in a research note on Monday, July 21st. They set a “buy” rating and a $48.00 price objective for the company. Mizuho decreased their price objective on Harmony Biosciences from $50.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, September 25th. Finally, The Goldman Sachs Group began coverage on Harmony Biosciences in a report on Thursday, July 10th. They issued a “neutral” rating and a $33.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $45.50.

Harmony Biosciences Trading Down 0.3%

HRMY opened at $27.56 on Friday. The company has a quick ratio of 3.80, a current ratio of 3.84 and a debt-to-equity ratio of 0.20. Harmony Biosciences has a 52 week low of $26.35 and a 52 week high of $41.61. The business’s 50 day moving average is $34.59 and its two-hundred day moving average is $33.29. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 8.89, a price-to-earnings-growth ratio of 0.34 and a beta of 0.84.

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

Hedge Funds Weigh In On Harmony Biosciences

A number of large investors have recently modified their holdings of HRMY. Financial Management Professionals Inc. purchased a new stake in shares of Harmony Biosciences in the first quarter valued at approximately $29,000. Brooklyn Investment Group lifted its holdings in Harmony Biosciences by 1,031.9% in the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock valued at $35,000 after acquiring an additional 970 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Harmony Biosciences by 4,185.2% in the second quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock valued at $37,000 after acquiring an additional 1,130 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Harmony Biosciences during the 1st quarter worth $57,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Harmony Biosciences by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock worth $70,000 after purchasing an additional 299 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Company Profile

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.