Harmony Biosciences (NASDAQ:HRMY) Price Target Raised to $55.00

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) had its price target upped by equities research analysts at Deutsche Bank Aktiengesellschaft from $54.00 to $55.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's price objective would indicate a potential upside of 61.76% from the stock's current price.

A number of other equities research analysts also recently weighed in on HRMY. Oppenheimer began coverage on Harmony Biosciences in a research note on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target for the company. UBS Group cut their price target on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, April 28th. The Goldman Sachs Group upgraded Harmony Biosciences to a "hold" rating and set a $33.00 target price for the company in a report on Thursday. Needham & Company LLC restated a "buy" rating and issued a $49.00 target price on shares of Harmony Biosciences in a report on Tuesday, May 6th. Finally, Mizuho boosted their target price on Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Harmony Biosciences presently has a consensus rating of "Buy" and an average target price of $51.33.

Harmony Biosciences Stock Down 1.0%

Harmony Biosciences stock traded down $0.33 during mid-day trading on Thursday, hitting $34.00. The company's stock had a trading volume of 370,534 shares, compared to its average volume of 633,385. The firm's 50 day moving average is $33.59 and its 200 day moving average is $33.88. The company has a market cap of $1.95 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 0.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.67 and a quick ratio of 3.63. Harmony Biosciences has a 52-week low of $26.47 and a 52-week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.19. The firm had revenue of $184.73 million during the quarter, compared to the consensus estimate of $184.26 million. Harmony Biosciences had a return on equity of 24.32% and a net margin of 20.53%. The business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 EPS. On average, analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current year.

Institutional Trading of Harmony Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HRMY. Financial Management Professionals Inc. acquired a new stake in Harmony Biosciences in the 1st quarter valued at approximately $29,000. Brooklyn Investment Group grew its holdings 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 buying an additional 970 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Harmony Biosciences in the 4th quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd acquired a new stake in Harmony Biosciences in the 1st quarter valued at approximately $57,000. Finally, PNC Financial Services Group Inc. grew its holdings in Harmony Biosciences by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock valued at $80,000 after buying an additional 519 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

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.