Harmony Biosciences (NASDAQ:HRMY) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Harmony Biosciences (NASDAQ:HRMY) from a buy rating to a strong-buy rating in a research report released on Sunday.

HRMY has been the topic of a number of other reports. UBS Group restated a “neutral” rating and set a $37.00 price objective on shares of Harmony Biosciences in a report on Wednesday, August 5th. Zacks Research lowered shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Truist Financial increased their target price on Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a research note on Thursday, July 16th. Finally, Weiss Ratings raised Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.50.

Harmony Biosciences Price Performance

NASDAQ HRMY opened at $38.12 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 0.35 and a beta of 0.96. The business has a 50 day simple moving average of $35.89 and a 200 day simple moving average of $32.67. Harmony Biosciences has a 52-week low of $25.52 and a 52-week high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. The firm had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The business’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Analysts anticipate that Harmony Biosciences will post 3.77 earnings per share for the current fiscal year.

Institutional Trading of Harmony Biosciences

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in Harmony Biosciences by 589.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after purchasing an additional 643 shares during the last quarter. Leonteq Securities AG acquired a new stake in Harmony Biosciences in the 4th quarter valued at $30,000. Allworth Financial LP lifted its position in Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after buying an additional 602 shares in the last quarter. Clearstead Advisors LLC lifted its position in Harmony Biosciences by 145.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after buying an additional 699 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Harmony Biosciences during the 4th quarter worth about $47,000. Institutional investors own 86.23% of the company’s stock.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.