UBS Group Lowers Harmony Biosciences (NASDAQ:HRMY) Price Target to $48.00

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) had its price objective lowered by equities research analysts at UBS Group from $55.00 to $48.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 63.49% from the stock's current price.

Other 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 research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 target price for the company. Mizuho increased their price target on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 18th. Finally, Needham & Company LLC restated a "buy" rating and set a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $52.44.

Harmony Biosciences Stock Performance

NASDAQ:HRMY traded down $0.25 during mid-day trading on Monday, reaching $29.36. 810,045 shares of the company's stock were exchanged, compared to its average volume of 579,383. Harmony Biosciences has a one year low of $26.47 and a one year high of $41.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The business's fifty day simple moving average is $31.96 and its two-hundred day simple moving average is $34.27. The firm has a market capitalization of $1.68 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. The company had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 earnings per share. Analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Harmony Biosciences

Several large investors have recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new position in shares of Harmony Biosciences in the first quarter valued at approximately $29,000. GAMMA Investing LLC increased its position in Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company's stock valued at $31,000 after acquiring 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 acquiring an additional 965 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Harmony Biosciences during the fourth quarter worth $41,000. Finally, KBC Group NV grew its stake 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 worth $63,000 after purchasing an additional 819 shares during the last quarter. 86.23% of the stock is currently owned by 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.

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