Harmony Biosciences (NASDAQ:HRMY – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Sunday.
Several other brokerages have also recently issued reports on HRMY. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, August 4th. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. UBS Group restated a “neutral” rating and set a $37.00 target price on shares of Harmony Biosciences in a report on Wednesday, August 5th. Needham & Company LLC upped their price target on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a report on Thursday, July 16th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Harmony Biosciences has an average rating of “Hold” and an average target price of $45.50.
Harmony Biosciences Trading Up 0.1%
Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.32. The business had revenue of $261.28 million during the quarter, compared to analyst estimates of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Research analysts forecast that Harmony Biosciences will post 3.77 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Harmony Biosciences
Several hedge funds and other institutional investors have recently bought and sold shares of HRMY. EverSource Wealth Advisors LLC boosted its holdings in Harmony Biosciences by 589.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after purchasing an additional 643 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after buying an additional 602 shares during the last quarter. Leonteq Securities AG acquired a new stake in shares of Harmony Biosciences during the 4th quarter worth approximately $30,000. National Bank of Canada FI acquired a new stake in shares of Harmony Biosciences during the 3rd quarter worth approximately $40,000. Finally, Clearstead Advisors LLC raised its position 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 buying an additional 699 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.
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.
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