Wall Street Zen Downgrades Harmony Biosciences (NASDAQ:HRMY) to Hold

Harmony Biosciences (NASDAQ:HRMY) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

A number of other equities analysts have also commented on the stock. HC Wainwright dropped their price target on shares of Harmony Biosciences from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price target on Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer assumed coverage on Harmony Biosciences in a research report on Monday, June 2nd. They set an “outperform” rating and a $61.00 price objective for the company. Mizuho cut their target price on shares of Harmony Biosciences from $50.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, 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 for the company. One investment 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.com, the company currently has a consensus rating of “Buy” and an average target price of $45.50.

Harmony Biosciences Trading Up 1.7%

Shares of NASDAQ HRMY opened at $27.51 on Friday. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 0.32 and a beta of 0.84. Harmony Biosciences has a 52 week low of $26.35 and a 52 week high of $41.61. The business has a 50 day simple moving average of $34.92 and a 200 day simple moving average of $33.36. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.80 and a current ratio of 3.84.

Harmony Biosciences (NASDAQ:HRMY) last posted 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 company had revenue of $200.49 million for the quarter, compared to the consensus estimate of $204.37 million. Harmony Biosciences had a net margin of 23.44% and a return on equity of 26.34%. Harmony Biosciences’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business earned $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, research analysts predict that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors have recently modified their holdings of HRMY. Financial Management Professionals Inc. acquired a new position in Harmony Biosciences during the first quarter valued at approximately $29,000. Brooklyn Investment Group raised its stake in shares of Harmony Biosciences by 1,031.9% in the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock worth $35,000 after purchasing an additional 970 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Harmony Biosciences by 4,185.2% in the second quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock valued at $37,000 after acquiring an additional 1,130 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Harmony Biosciences in the 1st quarter worth approximately $57,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Harmony Biosciences by 15.6% during the 2nd 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 in the last quarter. Institutional investors own 86.23% of the company’s stock.

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.