Mizuho Issues Positive Forecast for Harmony Biosciences (NASDAQ:HRMY) Stock Price

Harmony Biosciences (NASDAQ:HRMY) had its price objective increased by stock analysts at Mizuho from $36.00 to $39.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 27.26% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Harmony Biosciences in a research report on Tuesday, October 14th. UBS Group dropped their price target on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft dropped their price target on Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. The Goldman Sachs Group initiated coverage on Harmony Biosciences in a research report on Thursday, July 10th. They set a “neutral” rating and a $33.00 price target on the stock. Finally, Wall Street Zen raised Harmony Biosciences from a “hold” rating to a “buy” rating in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Harmony Biosciences Stock Down 2.2%

Shares of HRMY traded down $0.71 during trading on Thursday, reaching $30.65. The company’s stock had a trading volume of 249,000 shares, compared to its average volume of 721,398. The company has a fifty day moving average of $30.26 and a two-hundred day moving average of $32.68. Harmony Biosciences has a twelve month low of $25.52 and a twelve month high of $40.93. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 9.64, a P/E/G ratio of 0.37 and a beta of 0.85. The company has a quick ratio of 3.80, a current ratio of 3.75 and a debt-to-equity ratio of 0.18.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. The business had revenue of $239.46 million during the quarter, compared to analyst estimates of $222.68 million. On average, sell-side analysts predict that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Harmony Biosciences by 52.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,221 shares of the company’s stock worth $671,000 after purchasing an additional 6,915 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Harmony Biosciences by 2.3% in the first quarter. Principal Financial Group Inc. now owns 213,416 shares of the company’s stock worth $7,083,000 after purchasing an additional 4,753 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Harmony Biosciences by 8.4% in the first quarter. Envestnet Asset Management Inc. now owns 58,329 shares of the company’s stock worth $1,936,000 after purchasing an additional 4,503 shares in the last quarter. Moloney Securities Asset Management LLC bought a new position in shares of Harmony Biosciences in the first quarter worth $513,000. Finally, Alps Advisors Inc. grew its stake in shares of Harmony Biosciences by 13.3% in the first quarter. Alps Advisors Inc. now owns 10,473 shares of the company’s stock worth $348,000 after purchasing an additional 1,229 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Company Profile

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.