Harmony Biosciences (NASDAQ:HRMY) Price Target Cut to $41.00 by Analysts at Needham & Company LLC

Harmony Biosciences (NASDAQ:HRMY) had its price objective reduced by Needham & Company LLC from $48.00 to $41.00 in a research note issued to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

HRMY has been the topic of several other reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $55.00 target price (up from $54.00) on shares of Harmony Biosciences in a research report on Thursday, July 10th. 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. Wall Street Zen raised shares of Harmony Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. The Goldman Sachs Group assumed coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They set a “neutral” rating and a $33.00 price objective on the stock. Finally, Truist Financial assumed coverage on shares of Harmony Biosciences in a research report on Monday, July 21st. They set a “buy” rating and a $48.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $50.20.

Harmony Biosciences Stock Performance

Harmony Biosciences stock opened at $26.76 on Wednesday. The firm’s 50 day simple moving average is $35.26 and its 200-day simple moving average is $33.46. The company has a market cap of $1.54 billion, a P/E ratio of 8.63, a price-to-earnings-growth 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. Harmony Biosciences has a fifty-two week low of $26.47 and a fifty-two week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.10). The firm had revenue of $200.49 million during 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 period last year, the business earned $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Harmony Biosciences will post 2.43 EPS for the current year.

Institutional Trading of Harmony Biosciences

Several large investors have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp grew its position in Harmony Biosciences by 28.4% in the second quarter. Texas Permanent School Fund Corp now owns 34,732 shares of the company’s stock worth $1,098,000 after acquiring an additional 7,686 shares in the last quarter. Cim LLC grew its position in Harmony Biosciences by 5.7% in the second quarter. Cim LLC now owns 13,641 shares of the company’s stock worth $431,000 after acquiring an additional 730 shares in the last quarter. State of Wyoming grew its position in Harmony Biosciences by 41.2% in the second quarter. State of Wyoming now owns 8,885 shares of the company’s stock worth $281,000 after acquiring an additional 2,591 shares in the last quarter. Hohimer Wealth Management LLC bought a new stake in Harmony Biosciences in the second quarter worth approximately $261,000. Finally, Nomura Holdings Inc. grew its position in Harmony Biosciences by 382.3% in the second 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 in the last quarter. 86.23% of the stock is 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 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.