Mizuho Increases Harmony Biosciences (NASDAQ:HRMY) Price Target to $52.00

Harmony Biosciences (NASDAQ:HRMY) had its target price raised by investment analysts at Mizuho from $42.00 to $52.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price target would indicate a potential upside of 49.30% from the stock’s previous close.

Several other equities research analysts have also recently commented on HRMY. UBS Group assumed coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target for the company. Citigroup started coverage on shares of Harmony Biosciences in a research report on Friday, June 21st. They issued a “buy” rating and a $48.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.11.

Harmony Biosciences Trading Up 0.1 %

Shares of NASDAQ:HRMY opened at $34.83 on Thursday. The firm has a fifty day moving average of $36.14 and a two-hundred day moving average of $32.74. The company has a quick ratio of 3.09, a current ratio of 3.13 and a debt-to-equity ratio of 0.32. Harmony Biosciences has a 12-month low of $18.61 and a 12-month high of $40.60. The firm has a market capitalization of $1.98 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 0.67 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.24. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The firm had revenue of $172.80 million during the quarter, compared to analysts’ expectations of $172.53 million. During the same quarter last year, the firm earned $0.56 earnings per share. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. On average, equities analysts expect that Harmony Biosciences will post 2.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

A number of hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in Harmony Biosciences by 1.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock valued at $1,184,000 after purchasing an additional 397 shares during the period. Texas Permanent School Fund Corp grew its position in Harmony Biosciences by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock worth $964,000 after buying an additional 517 shares in the last quarter. ProShare Advisors LLC increased its stake in Harmony Biosciences by 7.0% during the first quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock valued at $352,000 after acquiring an additional 684 shares during the period. Profund Advisors LLC grew its holdings in shares of Harmony Biosciences by 11.1% during the 2nd quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock worth $228,000 after purchasing an additional 758 shares in the last quarter. Finally, CWM LLC increased its position in shares of Harmony Biosciences by 111.7% during the third quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after purchasing an additional 775 shares during the period. 86.23% of the stock is currently owned by institutional investors.

About Harmony Biosciences

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.