Bank of America Issues Pessimistic Forecast for Harmony Biosciences (NASDAQ:HRMY) Stock Price

Harmony Biosciences (NASDAQ:HRMY) had its price objective lowered by analysts at Bank of America from $32.00 to $28.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s target price would indicate a potential downside of 3.61% from the company’s current price.

A number of other research analysts have also recently issued reports on HRMY. UBS Group cut shares of Harmony Biosciences from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $43.00 to $46.00 in a report on Wednesday, February 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Harmony Biosciences in a research report on Monday, December 29th. Mizuho set a $50.00 price objective on Harmony Biosciences in a report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft downgraded Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research note on Monday. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Harmony Biosciences in a research report on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.67.

Harmony Biosciences Trading Up 3.1%

Shares of Harmony Biosciences stock opened at $29.05 on Wednesday. The stock has a market capitalization of $1.68 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 0.39 and a beta of 0.84. Harmony Biosciences has a 52 week low of $25.52 and a 52 week high of $40.87. The stock has a 50 day moving average price of $36.19 and a two-hundred day moving average price of $34.12. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.72 and a current ratio of 3.60.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.46). Harmony Biosciences had a return on equity of 19.86% and a net margin of 18.29%.The firm had revenue of $243.78 million during the quarter, compared to the consensus estimate of $240.04 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. Harmony Biosciences’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, equities analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Harmony Biosciences

In other news, CEO Jeffrey M. Dayno sold 25,933 shares of Harmony Biosciences stock in a transaction on Friday, December 12th. The stock was sold at an average price of $40.11, for a total transaction of $1,040,172.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sandip Kapadia sold 20,961 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $35.92, for a total transaction of $752,919.12. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 50,640 shares of company stock worth $1,932,256. Insiders own 23.60% of the company’s stock.

Institutional Trading of Harmony Biosciences

Several hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position in shares of Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after acquiring an additional 643 shares during the period. Allworth Financial LP grew its holdings in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after purchasing an additional 602 shares during the period. Leonteq Securities AG purchased a new stake in Harmony Biosciences in the fourth quarter worth $30,000. Parkside Financial Bank & Trust increased its position in 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 buying an additional 1,130 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Harmony Biosciences in the third quarter valued at $40,000. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences News Roundup

Here are the key news stories impacting Harmony Biosciences this week:

• Positive Sentiment: HC Wainwright reaffirmed its “buy” rating and kept a $55 price target, signaling strong upside from current levels and providing bullish support for long investors. HC Wainwright Reaffirms Buy
• Positive Sentiment: Needham & Company maintained a “buy” rating and a $44 target after a small cut, which keeps another buy-side endorsement in the tape and supports demand from growth-oriented investors. Needham Buy Rating
• Neutral Sentiment: UBS trimmed its price target from $46 to $36 and set a “neutral” rating — a meaningful reduction in upside but not a sell call, which may temper enthusiasm without forcing broad liquidation. UBS Lowers PT to $36
• Neutral Sentiment: An analyst-aggregate report shows an average rating of “Moderate Buy,” indicating mixed but overall constructive analyst sentiment that can limit downside from negative headlines. Analyst Average Rating
• Negative Sentiment: Truist Securities downgraded HRMY to “Hold” after developments in a patent trial, flagging increased legal/competitive risk that could pressure future revenue or margins if adverse outcomes persist. Truist Downgrade After Patent Trial
• Negative Sentiment: Bank of America cut its price target to $28 and moved to an “underperform” rating, which is explicitly bearish and adds selling pressure from institutional accounts that follow BofA coverage. BofA Lowers PT to $28

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.