Harmony Biosciences (NASDAQ:HRMY) Research Coverage Started at Citigroup

Citigroup began coverage on shares of Harmony Biosciences (NASDAQ:HRMYFree Report) in a research note released on Friday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $48.00 price objective on the stock.

A number of other brokerages also recently issued reports on HRMY. Needham & Company LLC reissued a buy rating and set a $50.00 price target on shares of Harmony Biosciences in a 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 report on Friday, April 12th. Finally, Mizuho cut their price objective on Harmony Biosciences from $42.00 to $40.00 and set a buy rating for the company in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $41.44.

Get Our Latest Stock Analysis on Harmony Biosciences

Harmony Biosciences Stock Up 4.6 %

Shares of HRMY stock opened at $30.13 on Friday. The stock’s fifty day moving average price is $29.80 and its 200 day moving average price is $31.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.11 and a quick ratio of 3.07. Harmony Biosciences has a 1-year low of $18.61 and a 1-year high of $39.26. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 0.65 and a beta of 0.72.

Harmony Biosciences (NASDAQ:HRMYGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The firm had revenue of $154.62 million for the quarter, compared to the consensus estimate of $154.10 million. Harmony Biosciences had a net margin of 22.30% and a return on equity of 28.26%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. On average, research analysts expect that Harmony Biosciences will post 1.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC increased its holdings in shares of Harmony Biosciences by 0.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 40,889 shares of the company’s stock valued at $1,321,000 after purchasing an additional 328 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Harmony Biosciences by 47.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after acquiring an additional 329 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Harmony Biosciences by 1.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock worth $1,184,000 after acquiring an additional 397 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Harmony Biosciences by 1.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock valued at $964,000 after acquiring an additional 517 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Harmony Biosciences by 7.0% in the first quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock valued at $352,000 after purchasing an additional 684 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Company Profile

(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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