Harmony Biosciences (NASDAQ:HRMY) Upgraded at Cantor Fitzgerald

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) was upgraded by stock analysts at Cantor Fitzgerald to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports. Cantor Fitzgerald also issued estimates for Harmony Biosciences' FY2025 earnings at $2.68 EPS.

A number of other analysts have also issued reports on the stock. UBS Group decreased their target price on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a research 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 research report on Tuesday, May 6th. Mizuho increased their price target on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They set a "buy" rating and a $55.00 price target on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $52.78.

Harmony Biosciences Trading Up 2.5%

NASDAQ HRMY traded up $0.84 during mid-day trading on Tuesday, reaching $35.07. 410,868 shares of the stock were exchanged, compared to its average volume of 594,694. Harmony Biosciences has a 1-year low of $26.47 and a 1-year high of $41.61. The business's fifty day simple moving average is $31.45 and its 200 day simple moving average is $33.97. The stock has a market capitalization of $2.01 billion, a PE ratio of 16.62, a PEG ratio of 0.47 and a beta of 0.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced 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 net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $184.73 million for the quarter, compared to analyst estimates of $184.26 million. During the same quarter last year, the business earned $0.67 earnings per share. Harmony Biosciences's revenue was up 19.5% compared to the same quarter last year. On average, research analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds have recently made changes to their positions in HRMY. Financial Management Professionals Inc. purchased a new position in shares of Harmony Biosciences in the 1st quarter valued at $29,000. Brooklyn Investment Group raised its stake in shares of 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 during the period. GF Fund Management CO. LTD. purchased a new position in shares of Harmony Biosciences in the 4th quarter valued at $41,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Harmony Biosciences in the 1st quarter valued at $57,000. Finally, KBC Group NV raised its stake in shares of 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 during the period. Hedge funds and other institutional investors 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.