Harmony Biosciences (NASDAQ:HRMY) Upgraded to “Buy” at Wall Street Zen

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

Other equities analysts have also recently issued reports about the stock. HC Wainwright restated a “buy” rating on shares of Harmony Biosciences in a research report on Wednesday, December 3rd. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price objective on shares of Harmony Biosciences in a research note on Monday, November 24th. Oppenheimer reaffirmed an “outperform” rating and set a $62.00 target price on shares of Harmony Biosciences in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Harmony Biosciences in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reduced 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, September 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.63.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $40.51 on Friday. The company has a current ratio of 3.75, a quick ratio of 3.72 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.33 billion, a PE ratio of 12.74, a P/E/G ratio of 0.51 and a beta of 0.80. Harmony Biosciences has a 12 month low of $25.52 and a 12 month high of $40.93. The stock has a 50-day moving average price of $32.00 and a two-hundred day moving average price of $33.29.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.05). The firm had revenue of $239.46 million for 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%. Analysts expect that Harmony Biosciences will post 2.43 EPS for the current year.

Institutional Investors Weigh In On Harmony Biosciences

Several large investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group increased its holdings in 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 in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Harmony Biosciences by 4,185.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock worth $37,000 after buying an additional 1,130 shares during the period. National Bank of Canada FI bought a new stake in shares of Harmony Biosciences in the 3rd quarter valued at $40,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Harmony Biosciences during the 1st quarter valued at $57,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Harmony Biosciences by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock worth $70,000 after acquiring an additional 299 shares in the last quarter. Institutional investors and hedge funds 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.