Deutsche Bank Aktiengesellschaft Cuts Harmony Biosciences (NASDAQ:HRMY) Price Target to $36.00

Key Points

• Deutsche Bank Aktiengesellschaft has reduced its price target for Harmony Biosciences from $54.00 to $36.00, while maintaining a "buy" rating, indicating a potential upside of 33.42% from the stock's previous close.
• In addition to Deutsche Bank, other firms have adjusted their price targets for Harmony Biosciences, with HC Wainwright lowering theirs to $55.00 and Goldman Sachs setting a target of $33.00.
• The latest financial results show Harmony Biosciences missed the earnings consensus estimate, reporting $0.68 EPS versus an expected $0.78, while its revenue grew 16% year-over-year to $200.49 million.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) had its price objective dropped by stock analysts at Deutsche Bank Aktiengesellschaft from $54.00 to $36.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's target price suggests a potential upside of 33.42% from the stock's previous close.

HRMY has been the topic of a number of other research reports. HC Wainwright cut their target price on shares of Harmony Biosciences from $70.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday. The Goldman Sachs Group assumed coverage on shares of Harmony Biosciences in a report on Thursday, July 10th. They set a "neutral" rating and a $33.00 target price on the stock. Oppenheimer began coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They issued an "outperform" rating and a $61.00 price objective on the stock. Wall Street Zen upgraded shares of Harmony Biosciences from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. Finally, Truist Financial assumed coverage on Harmony Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $48.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $46.80.

Harmony Biosciences Trading Up 0.8%

Shares of HRMY opened at $26.98 on Thursday. The firm has a fifty day simple moving average of $35.26 and a two-hundred day simple moving average of $33.46. Harmony Biosciences has a twelve month low of $26.47 and a twelve month high of $41.61. The stock has a market capitalization of $1.55 billion, a P/E ratio of 8.65, a PEG ratio of 0.38 and a beta of 0.84. The company has a quick ratio of 3.80, a current ratio of 3.84 and a debt-to-equity ratio of 0.20.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.10). The business had revenue of $200.49 million during the quarter, compared to the consensus estimate of $204.37 million. Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Harmony Biosciences will post 2.43 EPS for the current year.

Institutional Investors Weigh In On Harmony Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HRMY. Boston Partners purchased a new position in shares of Harmony Biosciences in the second quarter valued at $19,398,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Harmony Biosciences by 127.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company's stock worth $28,658,000 after buying an additional 508,498 shares during the period. New Vernon Capital Holdings II LLC boosted its holdings in Harmony Biosciences by 3,219.0% during the 1st quarter. New Vernon Capital Holdings II LLC now owns 488,424 shares of the company's stock valued at $16,211,000 after acquiring an additional 473,708 shares during the period. Nomura Holdings Inc. lifted its position in shares of Harmony Biosciences by 382.3% during the second quarter. Nomura Holdings Inc. now owns 422,919 shares of the company's stock worth $13,364,000 after purchasing an additional 335,237 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Harmony Biosciences by 36.3% during the 2nd quarter. Marshall Wace LLP now owns 1,209,484 shares of the company's stock valued at $38,220,000 after buying an additional 321,947 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

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.

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