Harmony Biosciences (NASDAQ:HRMY) Coverage Initiated at Oppenheimer

Stock analysts at Oppenheimer assumed coverage on shares of Harmony Biosciences (NASDAQ:HRMY - Get Free Report) in a research report issued on Monday, MarketBeat.com reports. The brokerage set an "outperform" rating and a $61.00 price target on the stock. Oppenheimer's price objective would suggest a potential upside of 72.76% from the stock's previous close.

A number of other analysts also recently issued reports on the stock. UBS Group cut their price target 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target for the company. Mizuho lifted their price objective on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Needham & Company LLC reiterated a "buy" rating and set a $49.00 price target on shares of Harmony Biosciences in a research note on Tuesday, May 6th. Finally, Cantor Fitzgerald upgraded shares of Harmony Biosciences to a "strong-buy" rating in a research note on Tuesday, May 13th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $53.00.

Harmony Biosciences Price Performance

HRMY traded down $0.25 during trading on Monday, reaching $35.31. The company's stock had a trading volume of 835,807 shares, compared to its average volume of 611,436. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $31.63 and a two-hundred day simple moving average of $34.01. Harmony Biosciences has a 1 year low of $26.47 and a 1 year high of $41.61. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 0.47 and a beta of 0.87.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share 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 business had revenue of $184.73 million for the quarter, compared to analyst estimates of $184.26 million. During the same period last year, the company posted $0.67 EPS. The business's revenue was up 19.5% on a year-over-year basis. As a group, analysts anticipate that Harmony Biosciences will post 2.43 EPS for the current year.

Institutional Trading of Harmony Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. purchased a new stake in Harmony Biosciences during the first quarter worth about $29,000. Brooklyn Investment Group boosted its holdings in Harmony Biosciences by 1,031.9% during the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company's stock worth $35,000 after buying an additional 970 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in Harmony Biosciences during the fourth quarter worth about $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in Harmony Biosciences during the first quarter worth about $57,000. Finally, KBC Group NV lifted its holdings in shares of Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company's stock valued at $63,000 after purchasing 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.