Harmony Biosciences (NASDAQ:HRMY) Coverage Initiated at Truist Financial

Investment analysts at Truist Financial initiated coverage on shares of Harmony Biosciences (NASDAQ:HRMY - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat reports. The firm set a "buy" rating and a $48.00 price target on the stock. Truist Financial's price target points to a potential upside of 30.83% from the stock's current price.

HRMY has been the topic of several other reports. Mizuho boosted their target price on shares of Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Cantor Fitzgerald upgraded shares of Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. Oppenheimer assumed coverage on shares of Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 target price on the stock. 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. Finally, The Goldman Sachs Group upgraded shares of Harmony Biosciences to a "hold" rating and set a $33.00 target price on the stock in a research report on Thursday, July 10th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $51.00.

Harmony Biosciences Stock Performance

Shares of Harmony Biosciences stock traded up $1.44 during trading on Monday, reaching $36.69. The company's stock had a trading volume of 828,627 shares, compared to its average volume of 637,552. The company has a 50-day moving average price of $33.83 and a two-hundred day moving average price of $33.90. The firm has a market cap of $2.11 billion, a PE ratio of 14.00, a P/E/G ratio of 0.48 and a beta of 0.83. Harmony Biosciences has a fifty-two week low of $26.47 and a fifty-two week high of $41.61. The company has a current ratio of 3.67, a quick ratio of 3.63 and a debt-to-equity ratio of 0.22.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.19. The business had revenue of $184.73 million for the quarter, compared to analysts' expectations of $184.26 million. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. The company's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 EPS. On average, analysts forecast that Harmony Biosciences will post 2.43 EPS for the current year.

Institutional Trading of Harmony Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of HRMY. Financial Management Professionals Inc. acquired a new stake in Harmony Biosciences in the first quarter valued at approximately $29,000. Brooklyn Investment Group grew its position in Harmony Biosciences by 1,031.9% in the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company's stock valued at $35,000 after acquiring an additional 970 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Harmony Biosciences in the fourth quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd acquired a new stake in Harmony Biosciences in the first quarter valued at approximately $57,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Harmony Biosciences by 15.6% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company's stock valued at $70,000 after acquiring an additional 299 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.