Harmony Biosciences (NASDAQ:HRMY) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a report released on Tuesday morning, Benzinga reports. They currently have a $52.00 target price on the stock.

HRMY has been the topic of a number of other research reports. Citigroup began coverage on Harmony Biosciences in a report on Friday, June 21st. They issued a buy rating and a $48.00 target price on the stock. UBS Group started coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They set 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 company’s stock. According to data from MarketBeat, Harmony Biosciences presently has an average rating of Moderate Buy and an average target price of $41.33.

Harmony Biosciences Stock Down 1.1 %

Shares of NASDAQ HRMY opened at $37.82 on Tuesday. The stock has a market capitalization of $2.15 billion, a P/E ratio of 16.37, a PEG ratio of 0.75 and a beta of 0.73. The stock’s fifty day moving average is $35.37 and its 200 day moving average is $32.37. Harmony Biosciences has a 52 week low of $18.61 and a 52 week high of $39.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results 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 for 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 quarterly revenue was up 28.8% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. Sell-side analysts forecast that Harmony Biosciences will post 2.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors have recently made changes to their positions in HRMY. Quadrant Capital Group LLC increased its position in shares of Harmony Biosciences by 47.5% during the fourth 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. Allspring Global Investments Holdings LLC increased its holdings in Harmony Biosciences by 1.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock worth $1,184,000 after purchasing an additional 397 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Harmony Biosciences by 1.8% in the first quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock valued at $964,000 after buying an additional 517 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Harmony Biosciences by 7.0% during the 1st quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock worth $352,000 after buying an additional 684 shares in the last quarter. Finally, Profund Advisors LLC grew its position 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 buying an additional 758 shares during the period. Institutional investors own 86.23% of the company’s stock.

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.