Harmony Biosciences (NASDAQ:HRMY) Rating Reiterated by Needham & Company LLC

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a note issued to investors on Wednesday, Benzinga reports. They presently have a $52.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 32.52% from the stock’s current price.

HRMY has been the topic of several other reports. Citigroup began coverage on Harmony Biosciences in a research report on Friday, June 21st. They issued a “buy” rating and a $48.00 price objective on the stock. UBS Group initiated coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target for the company. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Harmony Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $41.33.

Harmony Biosciences Stock Down 1.9 %

Shares of NASDAQ HRMY opened at $39.24 on Wednesday. The company has a quick ratio of 3.09, a current ratio of 3.13 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.77 and a beta of 0.73. Harmony Biosciences has a 52 week low of $18.61 and a 52 week high of $40.60. The firm’s fifty day moving average is $35.98 and its 200 day moving average is $32.66.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (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 analyst estimates of $172.53 million. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The business’s revenue was up 28.8% on a year-over-year basis. During the same period last year, the business earned $0.56 earnings per share. On average, equities research analysts expect that Harmony Biosciences will post 2.19 earnings per share for the current year.

Hedge Funds Weigh In On Harmony Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the business. TFO Wealth Partners LLC boosted its position in shares of Harmony Biosciences by 98,700.0% during 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. nVerses Capital LLC purchased a new stake in shares of Harmony Biosciences during the second quarter worth approximately $36,000. Quarry LP purchased a new stake in Harmony Biosciences in the 2nd quarter valued at approximately $62,000. Headlands Technologies LLC grew its holdings in Harmony Biosciences by 1,608.1% during the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock worth $77,000 after acquiring an additional 2,396 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Harmony Biosciences in the 2nd quarter valued at about $138,000. 86.23% of the stock is owned by hedge funds and other 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.