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

Harmony Biosciences (NASDAQ:HRMY – Get Free Report) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other research firms have also recently issued reports on HRMY. Truist Financial upped their price objective on Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday. Needham & Company LLC raised their price objective on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Harmony Biosciences in a report on Thursday, July 16th. Zacks Research upgraded Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Mizuho upped their target price on Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Harmony Biosciences has an average rating of “Moderate Buy” and a consensus target price of $45.50.

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Harmony Biosciences Price Performance

Shares of NASDAQ:HRMY opened at $38.41 on Friday. The company has a market capitalization of $2.24 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 0.37 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.48 and a quick ratio of 3.45. The business has a fifty day moving average price of $35.19 and a two-hundred day moving average price of $32.59. Harmony Biosciences has a 1 year low of $25.52 and a 1 year high of $40.87.

Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.32. The company had revenue of $261.28 million during the quarter, compared to analyst estimates of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS. Analysts forecast that Harmony Biosciences will post 3.62 earnings per share for the current year.

Institutional Trading of Harmony Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of HRMY. EverSource Wealth Advisors LLC boosted its position in shares of Harmony Biosciences by 589.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after buying an additional 643 shares during the last quarter. Allworth Financial LP lifted its stake in Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after acquiring an additional 602 shares during the period. Leonteq Securities AG bought a new position in Harmony Biosciences during the 4th quarter valued at about $30,000. National Bank of Canada FI purchased a new stake in shares of Harmony Biosciences during the 3rd quarter valued at about $40,000. Finally, Clearstead Advisors LLC boosted its holdings in shares of Harmony Biosciences by 145.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after acquiring an additional 699 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Company Profile

(Get Free Report)

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.

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