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

by · The Markets Daily

Needham & Company LLC reaffirmed their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY – Free Report) in a research note published on Wednesday, Benzinga reports. They currently have a $52.00 price target on the stock.

A number of other equities analysts have also recently weighed in on the company. UBS Group started coverage on Harmony Biosciences in a report on Tuesday, September 10th. They issued a buy rating and a $56.00 price target for the company. Citigroup began coverage on shares of Harmony Biosciences in a research note on Friday, June 21st. They issued a buy rating and a $48.00 target price for the company. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat, Harmony Biosciences currently has a consensus rating of Moderate Buy and a consensus target price of $41.33.

Read Our Latest Stock Analysis on HRMY

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $34.60 on Wednesday. The company has a current ratio of 3.13, a quick ratio of 3.09 and a debt-to-equity ratio of 0.32. The company has a market cap of $1.97 billion, a PE ratio of 14.98, a P/E/G ratio of 0.77 and a beta of 0.73. The company’s fifty day simple moving average is $36.08 and its 200-day simple moving average is $32.71. Harmony Biosciences has a 52 week low of $18.61 and a 52 week high of $40.60.

Harmony Biosciences (NASDAQ:HRMY – Get Free Report) 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. 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 for the quarter, compared to analyst estimates of $172.53 million. During the same period last year, the company posted $0.56 earnings per share. The firm’s revenue was up 28.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Harmony Biosciences will post 2.19 EPS for the current year.

Institutional Trading of Harmony Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. TFO Wealth Partners LLC grew its holdings in 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 acquiring an additional 987 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Harmony Biosciences during the second quarter worth about $36,000. Quarry LP acquired a new position in Harmony Biosciences in the second quarter worth about $62,000. Headlands Technologies LLC increased its holdings in Harmony Biosciences by 1,608.1% in the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after buying an additional 2,396 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Harmony Biosciences in the second quarter valued at about $138,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Company Profile

(Get Free Report)

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.

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