Harmony Biosciences (NASDAQ:HRMY) Now Covered by Analysts at Truist Financial

Truist Financial assumed coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $48.00 price objective on the stock.

HRMY has been the subject of a number of other reports. UBS Group decreased their price objective on shares of Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating for the company in a report on Monday, April 28th. HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Harmony Biosciences in a research note on Tuesday, April 8th. 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 target on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $55.00 target price (up previously from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. Finally, Mizuho lifted their price target on shares of Harmony Biosciences from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $51.00.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $35.25 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.63 and a current ratio of 3.67. The company has a market capitalization of $2.02 billion, a P/E ratio of 13.45, a P/E/G ratio of 0.48 and a beta of 0.83. The company has a fifty day moving average of $33.83 and a 200-day moving average of $33.90. Harmony Biosciences has a 52-week low of $26.47 and a 52-week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.19. The firm had revenue of $184.73 million during the quarter, compared to analysts’ expectations of $184.26 million. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. Harmony Biosciences’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the business earned $0.67 earnings per share. As a group, equities research analysts predict that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Harmony Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of HRMY. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Harmony Biosciences by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock valued at $70,000 after buying an additional 299 shares during the last quarter. Aurora Investment Counsel increased its holdings in shares of Harmony Biosciences by 0.6% in the 1st quarter. Aurora Investment Counsel now owns 61,667 shares of the company’s stock worth $2,047,000 after purchasing an additional 374 shares in the last quarter. Gallacher Capital Management LLC increased its holdings in shares of Harmony Biosciences by 4.3% in the second quarter. Gallacher Capital Management LLC now owns 9,981 shares of the company’s stock worth $315,000 after purchasing an additional 413 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Harmony Biosciences by 2.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company’s stock worth $704,000 after buying an additional 420 shares during the period. Finally, Rhumbline Advisers lifted its stake in Harmony Biosciences by 0.4% in the 1st quarter. Rhumbline Advisers now owns 109,073 shares of the company’s stock valued at $3,620,000 after buying an additional 485 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.