Harmony Biosciences (NASDAQ:HRMY) Now Covered by Analysts at Citigroup

Citigroup began coverage on shares of Harmony Biosciences (NASDAQ:HRMYFree Report) in a research report report published on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $48.00 target price on the stock.

A number of other analysts have also issued reports on the stock. Needham & Company LLC reissued a buy rating and issued a $50.00 price target on shares of Harmony Biosciences in a research report on Tuesday, April 30th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $49.00 price target on shares of Harmony Biosciences in a research note on Friday, April 12th. Finally, Mizuho lowered their target price on Harmony Biosciences from $42.00 to $40.00 and set a buy rating on the stock in a research note on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Harmony Biosciences has a consensus rating of Moderate Buy and an average price target of $41.44.

Get Our Latest Stock Report on HRMY

Harmony Biosciences Stock Performance

HRMY opened at $30.13 on Friday. The company has a quick ratio of 3.07, a current ratio of 3.11 and a debt-to-equity ratio of 0.34. The firm has a market cap of $1.71 billion, a PE ratio of 13.04, a P/E/G ratio of 0.65 and a beta of 0.72. The business has a fifty day simple moving average of $29.80 and a 200-day simple moving average of $31.27. Harmony Biosciences has a fifty-two week low of $18.61 and a fifty-two week high of $39.26.

Harmony Biosciences (NASDAQ:HRMYGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Harmony Biosciences had a net margin of 22.30% and a return on equity of 28.26%. The business had revenue of $154.62 million for the quarter, compared to analyst estimates of $154.10 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. The firm’s revenue was up 29.8% compared to the same quarter last year. As a group, equities analysts predict that Harmony Biosciences will post 1.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in Harmony Biosciences by 534,795.2% in the 4th quarter. Pacer Advisors Inc. now owns 1,224,910 shares of the company’s stock valued at $39,565,000 after buying an additional 1,224,681 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Harmony Biosciences by 2,132.8% during the fourth quarter. Federated Hermes Inc. now owns 525,337 shares of the company’s stock valued at $16,968,000 after acquiring an additional 501,809 shares during the period. LSV Asset Management grew its position in shares of Harmony Biosciences by 346.5% in the first quarter. LSV Asset Management now owns 335,146 shares of the company’s stock valued at $11,254,000 after purchasing an additional 260,093 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Harmony Biosciences by 18.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,420,000 shares of the company’s stock worth $46,533,000 after purchasing an additional 220,000 shares during the period. Finally, Capital Management Corp VA acquired a new position in shares of Harmony Biosciences during the 1st quarter worth about $7,018,000. Institutional investors own 86.23% of the company’s stock.

About Harmony Biosciences

(Get Free Report)

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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Analyst Recommendations for Harmony Biosciences (NASDAQ:HRMY)

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