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

Harmony Biosciences (NASDAQ:HRMY - Free Report) had its price objective trimmed by UBS Group from $55.00 to $48.00 in a report published on Monday morning, MarketBeat Ratings reports. The firm currently has a buy rating on the stock.

HRMY has been the subject of a number of other research reports. HC Wainwright restated a "buy" rating and set a $70.00 price target on shares of Harmony Biosciences in a report on Tuesday, April 8th. Mizuho raised their target price on Harmony Biosciences from $42.00 to $44.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target on the stock. Finally, Needham & Company LLC reissued a "buy" rating and set a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Harmony Biosciences has a consensus rating of "Buy" and a consensus price target of $52.44.

Harmony Biosciences Trading Up 1.5 %

Harmony Biosciences stock traded up $0.46 during trading on Monday, reaching $30.32. 857,912 shares of the company were exchanged, compared to its average volume of 574,597. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The stock's 50 day simple moving average is $31.41 and its two-hundred day simple moving average is $34.08. The company has a market capitalization of $1.74 billion, a P/E ratio of 14.37, a PEG ratio of 0.47 and a beta of 0.80. Harmony Biosciences has a 52-week low of $26.47 and a 52-week high of $41.61.

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

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hillsdale Investment Management Inc. boosted its stake in shares of Harmony Biosciences by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 68,000 shares of the company's stock valued at $2,340,000 after purchasing an additional 300 shares during the period. Aurora Investment Counsel lifted its holdings in Harmony Biosciences by 0.6% during the 1st quarter. Aurora Investment Counsel now owns 61,667 shares of the company's stock worth $2,047,000 after buying an additional 374 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Harmony Biosciences by 2.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company's stock worth $704,000 after buying an additional 420 shares in the last quarter. GAMMA Investing LLC boosted 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 buying an additional 436 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Harmony Biosciences by 0.4% during the first quarter. Rhumbline Advisers now owns 109,073 shares of the company's stock worth $3,620,000 after acquiring an additional 485 shares during the period. 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.