Harmony Biosciences (NASDAQ:HRMY) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a research report sent to investors on Monday, Benzinga reports. They currently have a $52.00 price target on the stock.

A number of other research firms have also issued reports on HRMY. Mizuho reduced their price target on shares of Harmony Biosciences from $42.00 to $40.00 and set a buy rating for the company in a research report on Tuesday, February 27th. Citigroup started coverage on shares of Harmony Biosciences in a research report on Friday, June 21st. They set a buy rating and a $48.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an overweight rating and set a $49.00 price target on shares of Harmony Biosciences in a research report on Friday, April 12th. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $41.67.

Harmony Biosciences Trading Up 3.3 %

NASDAQ:HRMY opened at $31.08 on Monday. The company has a market capitalization of $1.77 billion, a P/E ratio of 13.45, a PEG ratio of 0.68 and a beta of 0.72. The company has a current ratio of 3.11, a quick ratio of 3.07 and a debt-to-equity ratio of 0.34. Harmony Biosciences has a 12 month low of $18.61 and a 12 month high of $39.26. The firm has a fifty day simple moving average of $29.86 and a 200-day simple moving average of $31.26.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, April 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $154.62 million during the quarter, compared to analyst estimates of $154.10 million. Harmony Biosciences had a return on equity of 28.26% and a net margin of 22.30%. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. On average, equities research analysts anticipate that Harmony Biosciences will post 1.96 earnings per share for the current year.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors have recently modified their holdings of the business. TFO Wealth Partners LLC raised its holdings in Harmony Biosciences by 98,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock worth $32,000 after purchasing an additional 987 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Harmony Biosciences by 47.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $33,000 after buying an additional 329 shares in the last quarter. Lazard Asset Management LLC grew its stake in Harmony Biosciences by 98.3% in the 1st quarter. Lazard Asset Management LLC now owns 4,542 shares of the company’s stock valued at $152,000 after acquiring an additional 2,251 shares during the period. ELCO Management Co. LLC acquired a new stake in Harmony Biosciences in the 3rd quarter valued at $210,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Harmony Biosciences in the 4th quarter worth $210,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.