Mizuho Forecasts Strong Price Appreciation for Harmony Biosciences (NASDAQ:HRMY) Stock

Harmony Biosciences (NASDAQ:HRMY) had its target price raised by Mizuho from $44.00 to $48.00 in a research report sent to investors on Thursday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

HRMY has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and set a $70.00 target price on shares of Harmony Biosciences in a report on Tuesday, April 8th. UBS Group reduced their target price on Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Needham & Company LLC restated a “buy” rating and set a $49.00 target price on shares of Harmony Biosciences in a report on Tuesday, May 6th. Cantor Fitzgerald raised Harmony Biosciences to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Harmony Biosciences currently has an average rating of “Buy” and an average price target of $52.78.

Harmony Biosciences Price Performance

Shares of HRMY opened at $35.07 on Thursday. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. Harmony Biosciences has a 1 year low of $26.47 and a 1 year high of $41.61. The stock has a market cap of $2.01 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The stock’s 50-day moving average price is $31.45 and its two-hundred day moving average price is $33.96.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.19. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm had revenue of $184.73 million for the quarter, compared to analysts’ expectations of $184.26 million. During the same quarter last year, the business earned $0.67 earnings per share. The company’s revenue was up 19.5% compared to the same quarter last year. On average, equities analysts predict that Harmony Biosciences will post 2.43 earnings per share for the current year.

Institutional Investors Weigh In On Harmony Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. bought a new stake in Harmony Biosciences in the 1st quarter valued at approximately $29,000. Brooklyn Investment Group lifted its stake in Harmony Biosciences by 1,031.9% in the 1st quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock valued at $35,000 after acquiring an additional 970 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Harmony Biosciences in the 4th quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd bought a new stake in Harmony Biosciences in the 1st quarter valued at approximately $57,000. Finally, KBC Group NV lifted its stake in Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after acquiring an additional 819 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

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.