Harmony Biosciences (NASDAQ:HRMY) Research Coverage Started at Wolfe Research

Wolfe Research assumed coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a report released on Wednesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $60.00 target price on the stock.

A number of other research analysts have also weighed in on the stock. Mizuho raised their price target on shares of Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Wall Street Zen upgraded shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Oppenheimer reissued an “outperform” rating and set a $70.00 target price on shares of Harmony Biosciences in a research report on Tuesday, August 4th. UBS Group restated a “neutral” rating and issued a $37.00 target price on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Finally, Zacks Research lowered Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $47.11.

Harmony Biosciences Stock Down 1.7%

HRMY stock opened at $39.21 on Wednesday. Harmony Biosciences has a twelve month low of $25.52 and a twelve month high of $40.87. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $36.88 and its 200-day moving average is $32.82. The firm has a market capitalization of $2.28 billion, a PE ratio of 12.73, a P/E/G ratio of 0.37 and a beta of 0.96.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.32. The business had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.Harmony Biosciences’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. Sell-side analysts expect that Harmony Biosciences will post 3.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

Several large investors have recently modified their holdings of HRMY. Amundi lifted its stake in Harmony Biosciences by 115.6% in the first quarter. Amundi now owns 39,668 shares of the company’s stock valued at $1,229,000 after purchasing an additional 21,266 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Harmony Biosciences by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock worth $752,000 after buying an additional 984 shares during the last quarter. Empowered Funds LLC purchased a new stake in Harmony Biosciences in the first quarter worth $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Harmony Biosciences by 53.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company’s stock valued at $3,166,000 after buying an additional 33,058 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of Harmony Biosciences by 9.8% during the 2nd quarter. Cetera Investment Advisers now owns 8,404 shares of the company’s stock valued at $266,000 after buying an additional 748 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.