Harmony Biosciences (NASDAQ:HRMY) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Harmony Biosciences (NASDAQ:HRMY – Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Several other brokerages also recently commented on HRMY. UBS Group cut their price target on shares of Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, September 25th. HC Wainwright reissued a “buy” rating on shares of Harmony Biosciences in a research report on Wednesday, December 3rd. Oppenheimer restated an “outperform” rating and issued a $62.00 target price on shares of Harmony Biosciences in a research note on Monday, November 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Harmony Biosciences in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $45.63.

Read Our Latest Report on HRMY

Harmony Biosciences Stock Performance

NASDAQ:HRMY opened at $38.92 on Friday. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.52 and a beta of 0.80. Harmony Biosciences has a 1 year low of $25.52 and a 1 year high of $40.93. The stock’s 50 day simple moving average is $32.25 and its two-hundred day simple moving average is $33.31. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.75 and a quick ratio of 3.72.

Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). The business had revenue of $239.46 million for the quarter, compared to the consensus estimate of $222.68 million. Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. As a group, equities analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Institutional Trading of Harmony Biosciences

Several large investors have recently added to or reduced their stakes in HRMY. Boston Partners acquired a new stake in Harmony Biosciences during the second quarter worth about $19,398,000. Arrowstreet Capital Limited Partnership boosted its position in Harmony Biosciences by 127.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company’s stock valued at $28,658,000 after buying an additional 508,498 shares during the period. New Vernon Capital Holdings II LLC increased its holdings in Harmony Biosciences by 3,219.0% during the 1st quarter. New Vernon Capital Holdings II LLC now owns 488,424 shares of the company’s stock worth $16,211,000 after purchasing an additional 473,708 shares during the period. UBS Group AG raised its holdings in Harmony Biosciences by 213.3% in the third quarter. UBS Group AG now owns 503,081 shares of the company’s stock valued at $13,865,000 after acquiring an additional 342,505 shares in the last quarter. Finally, Nomura Holdings Inc. lifted its position in shares of Harmony Biosciences by 382.3% during the 2nd quarter. Nomura Holdings Inc. now owns 422,919 shares of the company’s stock worth $13,364,000 after purchasing an additional 335,237 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Company Profile

(Get Free Report)

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.

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