Harmony Biosciences (NASDAQ:HRMY) Price Target Lowered to $55.00 at HC Wainwright

Harmony Biosciences (NASDAQ:HRMY) had its target price lowered by HC Wainwright from $70.00 to $55.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

HRMY has been the subject of several other research reports. Oppenheimer started coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They issued an “outperform” rating and a $61.00 price target for the company. The Goldman Sachs Group started coverage on Harmony Biosciences in a research note on Thursday, July 10th. They issued a “neutral” rating and a $33.00 target price for the company. Truist Financial assumed coverage on Harmony Biosciences in a report on Monday, July 21st. They issued a “buy” rating and a $48.00 price target for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $55.00 price objective (up previously from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. Finally, Wall Street Zen upgraded Harmony Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. 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.com, Harmony Biosciences presently has an average rating of “Buy” and an average target price of $45.50.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $27.04 on Thursday. 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 stock has a market cap of $1.56 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 0.31 and a beta of 0.84. The stock has a 50-day moving average of $35.08 and a 200-day moving average of $33.41. Harmony Biosciences has a one year low of $26.35 and a one year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data 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). Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The firm had revenue of $200.49 million for the quarter, compared to the consensus estimate of $204.37 million. During the same period in the previous year, the business earned $1.05 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. Harmony Biosciences has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Harmony Biosciences will post 2.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HRMY. Boston Partners acquired a new stake in Harmony Biosciences in the 2nd quarter valued at $19,398,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Harmony Biosciences by 127.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company’s stock worth $28,658,000 after buying an additional 508,498 shares during the last quarter. New Vernon Capital Holdings II LLC grew 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 valued at $16,211,000 after acquiring an additional 473,708 shares in the last quarter. Nomura Holdings Inc. increased its position in shares of Harmony Biosciences by 382.3% in the second quarter. Nomura Holdings Inc. now owns 422,919 shares of the company’s stock valued at $13,364,000 after acquiring an additional 335,237 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in Harmony Biosciences by 36.3% during the second 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 in 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.