Harmony Biosciences (NASDAQ:HRMY) Stock Rating Reaffirmed by Raymond James

Raymond James reaffirmed their outperform rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a report published on Thursday morning, MarketBeat reports. Raymond James currently has a $40.00 target price on the stock.

Several other equities research analysts also recently issued reports on HRMY. UBS Group started coverage on Harmony Biosciences in a report on Tuesday, September 10th. They set a buy rating and a $56.00 price target for the company. Needham & Company LLC reissued a buy rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Wednesday, October 2nd. Citigroup assumed coverage on shares of Harmony Biosciences in a research note on Friday, June 21st. They issued a buy rating and a $48.00 price objective for the company. Finally, Mizuho increased their price target on Harmony Biosciences from $42.00 to $52.00 and gave the company an outperform rating in a research report on Thursday. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $44.11.

Harmony Biosciences Trading Up 0.1 %

Shares of HRMY stock opened at $34.83 on Thursday. The company has a market cap of $1.98 billion, a P/E ratio of 15.08, a PEG ratio of 0.67 and a beta of 0.73. Harmony Biosciences has a fifty-two week low of $18.61 and a fifty-two week high of $40.60. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13. The stock has a 50 day simple moving average of $36.19 and a two-hundred day simple moving average of $32.76.

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

Institutional Investors Weigh In On Harmony Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of HRMY. LSV Asset Management raised its stake in shares of Harmony Biosciences by 346.5% during the 1st quarter. LSV Asset Management now owns 335,146 shares of the company’s stock valued at $11,254,000 after purchasing an additional 260,093 shares during the period. American Century Companies Inc. lifted its holdings in shares of Harmony Biosciences by 53.7% in the second quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock worth $20,562,000 after buying an additional 238,140 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Harmony Biosciences by 56.7% in the second quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock valued at $17,975,000 after acquiring an additional 215,700 shares during the period. Capital Management Corp VA purchased a new position in Harmony Biosciences during the first quarter valued at approximately $7,018,000. Finally, Marshall Wace LLP increased its holdings in Harmony Biosciences by 145.4% during the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock worth $9,220,000 after acquiring an additional 181,092 shares during the period. Institutional investors own 86.23% of the company’s stock.

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.