Harmony Biosciences (NASDAQ:HRMY) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Harmony Biosciences (NASDAQ:HRMYFree Report) in a research report released on Tuesday, Benzinga reports. Needham & Company LLC currently has a $50.00 price objective on the stock.

A number of other brokerages have also weighed in on HRMY. Bank of America reiterated an underperform rating and set a $30.00 target price on shares of Harmony Biosciences in a research report on Tuesday, January 2nd. Cantor Fitzgerald reiterated an overweight rating and issued a $49.00 target price on shares of Harmony Biosciences in a research note on Thursday, March 28th. Mizuho reduced their target price on shares of Harmony Biosciences from $42.00 to $40.00 and set a buy rating for the company in a research note on Tuesday, February 27th. Finally, The Goldman Sachs Group lifted their target price on shares of Harmony Biosciences from $25.00 to $28.00 and gave the stock a sell rating in a research note on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $40.63.

Check Out Our Latest Stock Analysis on Harmony Biosciences

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $29.50 on Tuesday. Harmony Biosciences has a 52-week low of $18.61 and a 52-week high of $39.26. The company has a 50-day simple moving average of $32.17 and a 200 day simple moving average of $30.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.72 and a current ratio of 2.75. The company has a market capitalization of $1.67 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.41 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMYGet Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.29). Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The company had revenue of $168.40 million for the quarter, compared to analysts’ expectations of $168.90 million. During the same quarter last year, the business posted $1.01 EPS. The business’s quarterly revenue was up 31.3% on a year-over-year basis. On average, research analysts predict that Harmony Biosciences will post 3 EPS for the current year.

Insider Activity at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 11,979 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $32.00, for a total transaction of $383,328.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 28.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Harmony Biosciences

Several hedge funds have recently bought and sold shares of HRMY. TFO Wealth Partners LLC grew its stake in Harmony Biosciences by 98,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock worth $32,000 after buying an additional 987 shares in the last quarter. Quadrant Capital Group LLC grew its stake in 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 in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Harmony Biosciences by 95.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $50,000 after buying an additional 748 shares in the last quarter. Lazard Asset Management LLC purchased a new position in Harmony Biosciences in the 2nd quarter worth approximately $61,000. Finally, State of Wyoming grew its stake in Harmony Biosciences by 91.6% in the 4th quarter. State of Wyoming now owns 1,462 shares of the company’s stock worth $81,000 after buying an additional 699 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.

Further Reading

Analyst Recommendations for Harmony Biosciences (NASDAQ:HRMY)

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