Harmony Biosciences (NASDAQ:HRMY) Stock Rating Upgraded by Wall Street Zen

Key Points

• Harmony Biosciences has received an upgrade from Wall Street Zen, changing its stock rating from "hold" to "buy".
• Various analysts have set differing price targets for HRMY, with Deutsche Bank lowering its target to $36.00 while Truist Financial set a target of $48.00 with a "buy" rating.
• Despite the upgrades, Harmony Biosciences reported earnings per share of $0.68, which missed the consensus estimate of $0.78 for the most recent quarter.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Harmony Biosciences from $54.00 to $36.00 and set a "buy" rating on the stock in a report on Thursday, September 25th. Weiss Ratings restated a "hold (c)" rating on shares of Harmony Biosciences in a report on Saturday, September 27th. 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 price target on the stock. Truist Financial assumed coverage on shares of Harmony Biosciences in a report on Monday, July 21st. They set a "buy" rating and a $48.00 price target on the stock. Finally, Needham & Company LLC lowered their price target on shares of Harmony Biosciences from $48.00 to $41.00 and set a "buy" rating on the stock in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $46.11.

Harmony Biosciences Trading Down 0.9%

NASDAQ HRMY opened at $26.54 on Friday. Harmony Biosciences has a twelve month low of $25.97 and a twelve month high of $41.61. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.80 and a current ratio of 3.84. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 0.33 and a beta of 0.79. The firm's 50 day moving average price is $33.12 and its two-hundred day moving average price is $32.88.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Voya Investment Management LLC raised its position in shares of Harmony Biosciences by 56.3% during the third quarter. Voya Investment Management LLC now owns 52,213 shares of the company's stock valued at $1,439,000 after buying an additional 18,812 shares during the last quarter. City Center Advisors LLC acquired a new position in shares of Harmony Biosciences during the third quarter valued at about $221,000. Texas Permanent School Fund Corp raised its position in shares of Harmony Biosciences by 28.4% during the second quarter. Texas Permanent School Fund Corp now owns 34,732 shares of the company's stock valued at $1,098,000 after buying an additional 7,686 shares during the last quarter. Cim LLC raised its position in Harmony Biosciences by 5.7% in the second quarter. Cim LLC now owns 13,641 shares of the company's stock worth $431,000 after purchasing an additional 730 shares in the last quarter. Finally, State of Wyoming raised its position in Harmony Biosciences by 41.2% in the second quarter. State of Wyoming now owns 8,885 shares of the company's stock worth $281,000 after purchasing an additional 2,591 shares in 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.

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