Harmony Biosciences (NASDAQ:HRMY) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Harmony Biosciences (NASDAQ:HRMY) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently weighed in on HRMY. Weiss Ratings upgraded shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Harmony Biosciences from $30.00 to $36.00 and gave the company a “hold” rating in a research report on Tuesday, June 30th. HC Wainwright restated a “buy” rating on shares of Harmony Biosciences in a research note on Wednesday, June 24th. Finally, Truist Financial boosted their price objective on shares of Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.50.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY opened at $34.81 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58. The stock has a 50 day moving average price of $33.32 and a 200 day moving average price of $32.76. The stock has a market capitalization of $2.02 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 0.33 and a beta of 0.94. Harmony Biosciences has a 52 week low of $25.52 and a 52 week high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The company had revenue of $215.39 million for the quarter, compared to analyst estimates of $220.84 million. During the same period last year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Analysts predict that Harmony Biosciences will post 3.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

A number of large investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. boosted its stake in shares of Harmony Biosciences by 0.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 47,085 shares of the company’s stock valued at $1,762,000 after purchasing an additional 298 shares during the last quarter. Nebula Research & Development LLC increased its position in shares of Harmony Biosciences by 2.0% during the second quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock worth $550,000 after buying an additional 348 shares during the period. The Manufacturers Life Insurance Company raised its stake in Harmony Biosciences by 2.4% during the second quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company’s stock worth $717,000 after buying an additional 532 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Harmony Biosciences by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,799 shares of the company’s stock worth $105,000 after buying an additional 575 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in Harmony Biosciences by 286.7% in the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after buying an additional 602 shares during the period. Institutional investors own 86.23% of the company’s stock.

About Harmony Biosciences

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.