Harmony Biosciences (NASDAQ:HRMY) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Harmony Biosciences (NASDAQ:HRMY) from a buy rating to a hold rating in a report issued on Saturday morning.

A number of other brokerages have also recently issued reports on HRMY. Needham & Company LLC reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, May 6th. Truist Financial began coverage on shares of Harmony Biosciences in a research note on Monday, July 21st. They issued a “buy” rating and a $48.00 price objective for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $55.00 price objective (up previously from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th. UBS Group cut their price objective on shares of Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Finally, Mizuho upped their price objective on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Harmony Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Harmony Biosciences Price Performance

Shares of NASDAQ:HRMY opened at $34.80 on Friday. The company’s fifty day moving average price is $34.15 and its 200-day moving average price is $33.75. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.40 and a beta of 0.84. 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 0.20, a current ratio of 3.84 and a quick ratio of 3.80.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). The company had revenue of $200.49 million during the quarter, compared to the consensus estimate of $204.37 million. Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%. Harmony Biosciences’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 EPS. On average, equities research analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

Several institutional investors have recently added to or reduced their stakes in HRMY. Financial Management Professionals Inc. purchased a new stake in Harmony Biosciences during the 1st quarter valued at $29,000. Brooklyn Investment Group lifted its position 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 during the period. Parkside Financial Bank & Trust lifted its position in shares of Harmony Biosciences by 4,185.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock worth $37,000 after purchasing an additional 1,130 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of Harmony Biosciences in the 4th quarter worth about $41,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Harmony Biosciences in the 1st quarter worth about $57,000. Hedge funds and other institutional investors 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.