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

Harmony Biosciences (NASDAQ:HRMY)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They currently have a $50.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 65.18% from the company’s previous close.

A number of other brokerages have also recently weighed in on HRMY. Bank of America reiterated an “underperform” rating and set a $30.00 price target on shares of Harmony Biosciences in a research report on Tuesday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $49.00 price target on shares of Harmony Biosciences in a research report on Friday, April 12th. Mizuho decreased their price objective on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group increased their price objective on Harmony Biosciences from $25.00 to $28.00 and gave the stock a “sell” rating in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Harmony Biosciences has an average rating of “Moderate Buy” and a consensus price target of $40.63.

Harmony Biosciences Trading Down 2.1 %

Shares of NASDAQ HRMY opened at $30.27 on Tuesday. The stock’s 50 day moving average price is $31.18 and its two-hundred day moving average price is $30.02. Harmony Biosciences has a 52-week low of $18.61 and a 52-week high of $39.26. The stock has a market capitalization of $1.72 billion, a P/E ratio of 14.28, a PEG ratio of 0.41 and a beta of 0.73. The company has a quick ratio of 2.72, a current ratio of 2.75 and a debt-to-equity ratio of 0.38.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $154.62 million for the quarter, compared to analysts’ expectations of $154.10 million. Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 EPS. On average, analysts anticipate that Harmony Biosciences will post 3 earnings per share for the current fiscal year.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 11,979 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $32.00, for a total transaction of $383,328.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 30.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TFO Wealth Partners LLC boosted its stake in Harmony Biosciences by 98,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock valued at $32,000 after purchasing an additional 987 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Harmony Biosciences by 47.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after acquiring an additional 329 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Harmony Biosciences by 95.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $50,000 after acquiring an additional 748 shares in the last quarter. Oakworth Capital Inc. bought a new stake in shares of Harmony Biosciences during the 3rd quarter worth $150,000. Finally, ELCO Management Co. LLC bought a new stake in shares of Harmony Biosciences during the 3rd quarter worth $210,000. 86.23% of the stock is owned by institutional investors.

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.