Harmony Biosciences’ (HRMY) Buy Rating Reiterated at Needham & Company LLC

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $52.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 35.95% from the stock’s current price.

A number of other research analysts have also issued reports on HRMY. UBS Group began coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 target price on the stock. Citigroup began coverage on shares of Harmony Biosciences in a research note on Friday, June 21st. They set a “buy” rating and a $48.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.33.

Harmony Biosciences Stock Down 2.6 %

HRMY stock opened at $38.25 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.13 and a quick ratio of 3.09. Harmony Biosciences has a 12 month low of $18.61 and a 12 month high of $39.73. The firm has a market capitalization of $2.17 billion, a PE ratio of 16.56, a P/E/G ratio of 0.75 and a beta of 0.73. The company’s 50 day simple moving average is $35.30 and its 200-day simple moving average is $32.32.

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

Institutional Investors Weigh In On Harmony Biosciences

Hedge funds have recently modified their holdings of the stock. TFO Wealth Partners LLC raised its stake in Harmony Biosciences by 98,700.0% during the fourth 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 raised its position in shares of Harmony Biosciences by 47.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after buying an additional 329 shares during the period. nVerses Capital LLC acquired a new position in Harmony Biosciences in the second quarter valued at $36,000. Quarry LP purchased a new stake in Harmony Biosciences during the second quarter valued at about $62,000. Finally, Headlands Technologies LLC increased its stake 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 last quarter. 86.23% of the stock is 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.