Mizuho Issues Pessimistic Forecast for Harmony Biosciences (NASDAQ:HRMY) Stock Price

Key Points

• Mizuho has reduced its price target for Harmony Biosciences from $50.00 to $35.00, suggesting a potential upside of 32.20% from the stock's previous close despite maintaining an "outperform" rating.
• The stock currently has an average rating of "Buy" with an average price target of $45.50, while trading at approximately $26.48 after a 1.1% decline.
• Analysts noted that Harmony Biosciences missed earnings expectations with reported EPS of $0.68, missing the consensus estimate of $0.78 for the last quarter.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) had its price target reduced by stock analysts at Mizuho from $50.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's price target would suggest a potential upside of 32.20% from the stock's previous close.

A number of other analysts have also recently weighed in on HRMY. Truist Financial assumed coverage on shares of Harmony Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $48.00 price target for the company. Wall Street Zen raised shares of Harmony Biosciences from a "hold" rating to a "buy" rating in a research report on Saturday, September 20th. Needham & Company LLC decreased their price target on shares of Harmony Biosciences from $48.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday. The Goldman Sachs Group began coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They issued a "neutral" rating and a $33.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Harmony Biosciences from $54.00 to $36.00 and set a "buy" rating for the company in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $45.50.

Harmony Biosciences Trading Down 1.1%

Harmony Biosciences stock traded down $0.29 during midday trading on Thursday, reaching $26.48. The stock had a trading volume of 670,657 shares, compared to its average volume of 685,258. Harmony Biosciences has a twelve month low of $26.38 and a twelve month high of $41.61. The stock has a market capitalization of $1.52 billion, a PE ratio of 8.54, a price-to-earnings-growth ratio of 0.38 and a beta of 0.84. 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's 50-day simple moving average is $35.26 and its 200 day simple moving average is $33.46.

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

Institutional Investors Weigh In On Harmony Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of HRMY. Boston Partners acquired a new stake in Harmony Biosciences during the second quarter worth about $19,398,000. Arrowstreet Capital Limited Partnership raised its stake in Harmony Biosciences by 127.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company's stock worth $28,658,000 after acquiring an additional 508,498 shares during the period. New Vernon Capital Holdings II LLC increased its stake in shares of Harmony Biosciences by 3,219.0% in the first quarter. New Vernon Capital Holdings II LLC now owns 488,424 shares of the company's stock valued at $16,211,000 after purchasing an additional 473,708 shares during the period. Nomura Holdings Inc. increased its stake in shares of Harmony Biosciences by 382.3% in the second quarter. Nomura Holdings Inc. now owns 422,919 shares of the company's stock valued at $13,364,000 after purchasing an additional 335,237 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Harmony Biosciences by 36.3% in the second quarter. Marshall Wace LLP now owns 1,209,484 shares of the company's stock valued at $38,220,000 after purchasing an additional 321,947 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.