Harmony Biosciences (NASDAQ:HRMY) Earns Buy Rating from Analysts at Truist Financial

Investment analysts at Truist Financial started coverage on shares of Harmony Biosciences (NASDAQ:HRMY - Get Free Report) in a report released on Monday, MarketBeat Ratings reports. The firm set a "buy" rating and a $48.00 price target on the stock. Truist Financial's target price indicates a potential upside of 30.25% from the company's previous close.

A number of other brokerages have also recently commented on HRMY. UBS Group dropped their price target on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Mizuho boosted their price target on Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $55.00 price target (up from $54.00) on shares of Harmony Biosciences in a research report on Thursday, July 10th. Oppenheimer began coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They issued an "outperform" rating and a $61.00 price objective for the company. Finally, Needham & Company LLC restated a "buy" rating and issued a $49.00 price objective on shares of Harmony Biosciences in a report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $51.00.

Harmony Biosciences Stock Down 1.0%

Shares of HRMY traded down $0.37 during mid-day trading on Monday, reaching $36.85. The company had a trading volume of 120,510 shares, compared to its average volume of 665,836. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.63 and a current ratio of 3.67. The firm has a 50-day moving average price of $33.96 and a 200 day moving average price of $33.95. Harmony Biosciences has a 52 week low of $26.47 and a 52 week high of $41.61. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 0.50 and a beta of 0.83.

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

Institutional Investors Weigh In On Harmony Biosciences

A number of hedge funds have recently added to or reduced their stakes in HRMY. Financial Management Professionals Inc. purchased a new stake in shares of Harmony Biosciences in the 1st quarter worth $29,000. Brooklyn Investment Group increased 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 worth $35,000 after purchasing an additional 970 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Harmony Biosciences in the 4th quarter worth $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Harmony Biosciences in the 1st quarter worth $57,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Harmony Biosciences by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company's stock worth $70,000 after purchasing an additional 299 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.