Needham & Company LLC Lowers Harmony Biosciences (NASDAQ:HRMY) Price Target to $44.00

Harmony Biosciences (NASDAQ:HRMY) had its target price dropped by research analysts at Needham & Company LLC from $46.00 to $44.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 51.46% from the company’s previous close.

Several other analysts have also recently commented on HRMY. Bank of America lowered their price target on Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating for the company in a report on Wednesday. Zacks Research raised shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. UBS Group downgraded shares of Harmony Biosciences from a “buy” rating to a “neutral” rating and boosted their target price for the company from $43.00 to $46.00 in a report on Wednesday, February 11th. Wall Street Zen raised shares of Harmony Biosciences from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Finally, Deutsche Bank Aktiengesellschaft cut shares of 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. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Harmony Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $42.67.

Harmony Biosciences Stock Up 3.1%

HRMY stock opened at $29.05 on Wednesday. The company 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. The stock has a market capitalization of $1.68 billion, a P/E ratio of 10.72, a PEG ratio of 0.39 and a beta of 0.84. Harmony Biosciences has a one year low of $25.52 and a one year high of $40.87.

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

Insider Activity at Harmony Biosciences

In other news, CFO Sandip Kapadia sold 3,746 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $37.15, for a total value of $139,163.90. Following the completion of the transaction, the chief financial officer directly owned 24,521 shares in the company, valued at approximately $910,955.15. This represents a 13.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey M. Dayno sold 25,933 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $40.11, for a total transaction of $1,040,172.63. The SEC filing for this sale provides additional information. Insiders sold 50,640 shares of company stock valued at $1,932,256 in the last ninety days. 23.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors have recently added to or reduced their stakes in HRMY. Robeco Institutional Asset Management B.V. increased its position in shares of Harmony Biosciences by 0.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 47,085 shares of the company’s stock worth $1,762,000 after acquiring an additional 298 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Harmony Biosciences by 1.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,639 shares of the company’s stock valued at $789,000 after purchasing an additional 348 shares in the last quarter. Nebula Research & Development LLC increased its holdings in Harmony Biosciences by 2.0% during the 2nd quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock worth $550,000 after purchasing an additional 348 shares during the last quarter. Amalgamated Bank raised its position in shares of Harmony Biosciences by 3.8% in the 3rd quarter. Amalgamated Bank now owns 11,328 shares of the company’s stock valued at $312,000 after purchasing an additional 417 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its position in shares of Harmony Biosciences by 12.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,466 shares of the company’s stock valued at $141,000 after purchasing an additional 479 shares in the last quarter. Institutional investors and hedge funds 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.