Harmony Biosciences (NASDAQ:HRMY) Given "Buy" Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY - Free Report) in a report issued on Tuesday,Benzinga reports. The firm currently has a $49.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the company. HC Wainwright restated a "buy" rating and issued a $70.00 price target on shares of Harmony Biosciences in a report on Tuesday, April 8th. UBS Group dropped their target price on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a report on Monday, April 28th. Mizuho upped their price objective on Harmony Biosciences from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They issued a "buy" rating and a $55.00 target price for the company. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $52.33.

Harmony Biosciences Stock Performance

Shares of HRMY traded down $0.04 during mid-day trading on Tuesday, hitting $34.05. 527,947 shares of the company's stock were exchanged, compared to its average volume of 587,329. The business's 50 day moving average is $31.38 and its two-hundred day moving average is $34.01. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1.96 billion, a P/E ratio of 16.14, a P/E/G ratio of 0.47 and a beta of 0.82. Harmony Biosciences has a fifty-two week low of $26.47 and a fifty-two 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 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 17.98% and a return on equity of 23.16%. The firm's revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share. On average, equities analysts expect that Harmony Biosciences will post 2.43 earnings per share for the current year.

Institutional Trading of Harmony Biosciences

A number of hedge funds have recently made changes to their positions in HRMY. Financial Management Professionals Inc. bought a new position in Harmony Biosciences during the 1st quarter valued at $29,000. GAMMA Investing LLC boosted its position in shares of Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company's stock worth $31,000 after buying an additional 436 shares during the period. Mendota Financial Group LLC raised its stake in shares of Harmony Biosciences by 24,125.0% during the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock valued at $33,000 after purchasing an additional 965 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Harmony Biosciences in the 4th quarter worth approximately $41,000. 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 worth $63,000 after buying an additional 819 shares in the last quarter. 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.