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

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

Several other brokerages also recently issued reports on HRMY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $55.00 price target (up from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. The Goldman Sachs Group began coverage on shares of Harmony Biosciences in a research note on Thursday, July 10th. They issued a “neutral” rating and a $33.00 price objective on the stock. Oppenheimer began coverage on shares of Harmony Biosciences in a research note on Monday, June 2nd. They issued an “outperform” rating and a $61.00 price objective on the stock. Finally, Truist Financial began coverage on shares of Harmony Biosciences in a research note on Monday, July 21st. They issued a “buy” rating and a $48.00 price objective 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 issued a Hold rating to the stock. Based on data from MarketBeat, Harmony Biosciences presently has an average rating of “Buy” and a consensus price target of $51.00.

Harmony Biosciences Stock Down 0.3%

Shares of HRMY opened at $32.54 on Friday. Harmony Biosciences has a one year low of $26.47 and a one year high of $41.61. The company has a market cap of $1.87 billion, a P/E ratio of 10.50, a P/E/G ratio of 0.38 and a beta of 0.84. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.84 and a quick ratio of 3.80. The firm has a 50 day simple moving average of $35.53 and a two-hundred day simple moving average of $33.53.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.10). The company 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%.The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company posted $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. Research analysts forecast that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in HRMY. Boston Partners acquired a new stake in shares of Harmony Biosciences in the 2nd quarter worth about $19,398,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Harmony Biosciences by 127.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company’s stock worth $28,658,000 after acquiring an additional 508,498 shares during the last quarter. New Vernon Capital Holdings II LLC raised its holdings in shares of Harmony Biosciences by 3,219.0% in the 1st quarter. New Vernon Capital Holdings II LLC now owns 488,424 shares of the company’s stock worth $16,211,000 after acquiring an additional 473,708 shares during the last quarter. Nomura Holdings Inc. raised its holdings in shares of Harmony Biosciences by 382.3% in the 2nd quarter. Nomura Holdings Inc. now owns 422,919 shares of the company’s stock worth $13,364,000 after acquiring an additional 335,237 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Harmony Biosciences by 36.3% in the 2nd quarter. Marshall Wace LLP now owns 1,209,484 shares of the company’s stock worth $38,220,000 after acquiring an additional 321,947 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, 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.