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

Harmony Biosciences (NASDAQ:HRMY) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also issued reports about the stock. 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 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, September 25th. UBS Group cut their price objective on shares of Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Harmony Biosciences in a research report on Wednesday. Finally, Mizuho raised their target price on shares of Harmony Biosciences from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.50.

Harmony Biosciences Stock Up 1.6%

Shares of Harmony Biosciences stock opened at $31.43 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.80 and a current ratio of 3.75. Harmony Biosciences has a 52-week low of $25.52 and a 52-week high of $40.93. The company’s 50 day moving average price is $30.01 and its 200-day moving average price is $32.69. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 0.39 and a beta of 0.85.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The company had revenue of $239.46 million during the quarter, compared to the consensus estimate of $222.68 million. Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%. Equities research analysts forecast that Harmony Biosciences will post 2.43 EPS for the current year.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. Brooklyn Investment Group lifted its stake in shares of Harmony Biosciences by 1,031.9% in the 1st quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock valued at $35,000 after purchasing an additional 970 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake 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 worth $37,000 after acquiring an additional 1,130 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Harmony Biosciences during the 1st quarter valued at approximately $57,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Harmony Biosciences by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock worth $70,000 after buying an additional 299 shares during the last quarter. Finally, CWM LLC increased its position in shares of Harmony Biosciences by 34.8% in the 1st quarter. CWM LLC now owns 2,704 shares of the company’s stock worth $90,000 after purchasing an additional 698 shares during the last quarter. Hedge funds and other 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.