Deutsche Bank Aktiengesellschaft Reiterates "Buy" Rating for Harmony Biosciences (NASDAQ:HRMY)

Harmony Biosciences (NASDAQ:HRMY - Get Free Report)'s stock had its "buy" rating restated by Deutsche Bank Aktiengesellschaft in a report released on Thursday, MarketBeat.com reports. They currently have a $55.00 target price on the stock, up from their prior target price of $54.00. Deutsche Bank Aktiengesellschaft's price objective suggests a potential upside of 60.47% from the company's previous close.

Other equities analysts have also issued research reports about the company. UBS Group cut their target price on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. The Goldman Sachs Group raised Harmony Biosciences to a "hold" rating and set a $33.00 price target on the stock in a research report on Thursday. Cantor Fitzgerald raised Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $49.00 price target on shares of Harmony Biosciences in a research report on Tuesday, May 6th. Finally, Mizuho raised their price target on Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Harmony Biosciences has a consensus rating of "Buy" and an average price target of $51.33.

Harmony Biosciences Price Performance

Shares of HRMY stock traded up $0.28 during trading hours on Thursday, hitting $34.28. 34,767 shares of the company's stock were exchanged, compared to its average volume of 632,540. The stock's 50-day moving average is $33.59 and its 200-day moving average is $33.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.67 and a quick ratio of 3.63. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.47 and a beta of 0.83. 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 posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.19. The business had revenue of $184.73 million for the quarter, compared to analysts' expectations of $184.26 million. Harmony Biosciences had a return on equity of 24.32% and a net margin of 20.53%. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 earnings per share. As a group, research analysts forecast that Harmony Biosciences will post 2.43 EPS for the current year.

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors have recently modified their holdings of the business. CX Institutional raised its holdings in shares of Harmony Biosciences by 166.8% during the 2nd quarter. CX Institutional now owns 207,783 shares of the company's stock worth $6,566,000 after buying an additional 129,916 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Harmony Biosciences by 21.5% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 61,700 shares of the company's stock worth $1,948,000 after buying an additional 10,900 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Harmony Biosciences by 6.1% during the 2nd quarter. Exchange Traded Concepts LLC now owns 32,100 shares of the company's stock worth $1,014,000 after buying an additional 1,844 shares in the last quarter. Gallacher Capital Management LLC raised its holdings in shares of Harmony Biosciences by 4.3% during the 2nd quarter. Gallacher Capital Management LLC now owns 9,981 shares of the company's stock worth $315,000 after buying an additional 413 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Harmony Biosciences by 16.8% during the 1st quarter. Voya Investment Management LLC now owns 26,722 shares of the company's stock worth $887,000 after buying an additional 3,851 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.