Harmony Biosciences (NASDAQ:HRMY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Harmony Biosciences (NASDAQ:HRMY) from a hold rating to a buy rating in a report published on Saturday.

Other analysts also recently issued reports about the stock. Truist Financial started coverage on shares of Harmony Biosciences in a report on Monday, July 21st. They set a “buy” rating and a $48.00 price objective for the company. Needham & Company LLC decreased their price objective on shares of Harmony Biosciences from $48.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. HC Wainwright decreased their price target on shares of Harmony Biosciences from $70.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, September 25th. The Goldman Sachs Group began coverage on Harmony Biosciences in a research report on Thursday, July 10th. They issued a “neutral” rating and a $33.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Harmony Biosciences in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Harmony Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $46.11.

Harmony Biosciences Stock Down 0.7%

Shares of Harmony Biosciences stock opened at $26.36 on Friday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 8.50, a P/E/G ratio of 0.33 and a beta of 0.79. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.84 and a quick ratio of 3.80. Harmony Biosciences has a 52-week low of $25.95 and a 52-week high of $41.61. The stock has a 50-day simple moving average of $32.94 and a 200-day simple moving average of $32.83.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.10). Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The company had revenue of $200.49 million during the quarter, compared to analyst estimates of $204.37 million. During the same quarter last year, the firm posted $1.05 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Harmony Biosciences by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock valued at $70,000 after buying an additional 299 shares in the last quarter. Nebula Research & Development LLC grew its holdings in shares of Harmony Biosciences by 2.0% during the second quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock worth $550,000 after purchasing an additional 348 shares during the last quarter. Aurora Investment Counsel grew its holdings in shares of Harmony Biosciences by 0.6% during the first quarter. Aurora Investment Counsel now owns 61,667 shares of the company’s stock worth $2,047,000 after purchasing an additional 374 shares during the last quarter. Gallacher Capital Management LLC grew its holdings in shares of Harmony Biosciences by 4.3% during the second quarter. Gallacher Capital Management LLC now owns 9,981 shares of the company’s stock worth $315,000 after purchasing an additional 413 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Harmony Biosciences by 12.0% during the second quarter. Ameritas Investment Partners Inc. now owns 4,466 shares of the company’s stock worth $141,000 after purchasing an additional 479 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

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.