Harmony Biosciences (NASDAQ:HRMY) Reaches New 12-Month Low on Analyst Downgrade

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)’s stock price hit a new 52-week low on Thursday after Mizuho lowered their price target on the stock from $50.00 to $35.00. Mizuho currently has an outperform rating on the stock. Harmony Biosciences traded as low as $26.43 and last traded at $26.54, with a volume of 241265 shares trading hands. The stock had previously closed at $26.76.

A number of other analysts also recently weighed in on HRMY. Deutsche Bank Aktiengesellschaft cut their price target on shares of Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday. Needham & Company LLC dropped their target price on shares of Harmony Biosciences from $48.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday. Wall Street Zen upgraded shares of Harmony Biosciences from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Truist Financial began coverage on shares of Harmony Biosciences in a report on Monday, July 21st. They set a “buy” rating and a $48.00 target price on the stock. Finally, HC Wainwright dropped their target price on shares of Harmony Biosciences from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $45.50.

Hedge Funds Weigh In On Harmony Biosciences

Several hedge funds have recently made changes to their positions in HRMY. Nuveen Asset Management LLC grew its stake in shares of Harmony Biosciences by 4.0% during the 4th quarter. Nuveen Asset Management LLC now owns 212,351 shares of the company’s stock worth $7,307,000 after acquiring an additional 8,193 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Harmony Biosciences by 125.6% during the 4th quarter. Squarepoint Ops LLC now owns 16,901 shares of the company’s stock worth $582,000 after acquiring an additional 9,411 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Harmony Biosciences by 1.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,331 shares of the company’s stock worth $2,145,000 after acquiring an additional 678 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Harmony Biosciences during the 4th quarter worth approximately $3,235,000. Finally, California State Teachers Retirement System grew its stake in shares of Harmony Biosciences by 25.9% during the 4th quarter. California State Teachers Retirement System now owns 37,087 shares of the company’s stock worth $1,276,000 after acquiring an additional 7,629 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Stock Up 1.0%

The company has a market capitalization of $1.56 billion, a P/E ratio of 8.72, a PEG ratio of 0.31 and a beta of 0.84. The firm’s 50 day moving average price is $35.08 and its two-hundred day moving average price is $33.41. The company has a current ratio of 3.84, a quick ratio of 3.80 and a debt-to-equity ratio of 0.20.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly 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 business had revenue of $200.49 million for the quarter, compared to the consensus estimate of $204.37 million. Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.Harmony Biosciences’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. Equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

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.