Harmony Biosciences (NASDAQ:HRMY) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Harmony Biosciences (NASDAQ:HRMY) from a buy rating to a hold rating in a report released on Sunday.

Several other analysts have also commented on HRMY. HC Wainwright cut their price objective on Harmony Biosciences from $70.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, September 25th. Truist Financial initiated coverage on Harmony Biosciences in a research report on Monday, July 21st. They set a “buy” rating and a $48.00 target price on the stock. The Goldman Sachs Group initiated coverage on Harmony Biosciences in a research report on Thursday, July 10th. They set a “neutral” rating and a $33.00 target price on the stock. UBS Group lowered their target price on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Mizuho lowered their target price on Harmony Biosciences from $50.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Harmony Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.56.

Harmony Biosciences Stock Performance

Shares of HRMY opened at $25.90 on Friday. 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 has a one year low of $25.58 and a one year high of $41.61. The firm has a market capitalization of $1.49 billion, a P/E ratio of 8.35, a PEG ratio of 0.32 and a beta of 0.79. The business has a fifty day moving average of $32.29 and a 200 day moving average of $32.66.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The firm had revenue of $200.49 million during the quarter, compared to the consensus estimate of $204.37 million. During the same period in the previous year, the firm earned $1.05 EPS. The business’s revenue was up 16.0% on a year-over-year basis. Harmony Biosciences has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Harmony Biosciences will post 2.43 EPS for the current year.

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds have recently made changes to their positions in the business. American Century Companies Inc. boosted its stake in shares of Harmony Biosciences by 16.5% in the second quarter. American Century Companies Inc. now owns 1,501,420 shares of the company’s stock worth $47,445,000 after acquiring an additional 212,633 shares during the period. LSV Asset Management boosted its stake in shares of Harmony Biosciences by 24.6% in the second quarter. LSV Asset Management now owns 1,488,502 shares of the company’s stock worth $47,037,000 after acquiring an additional 293,541 shares during the period. Marshall Wace LLP boosted its stake in shares of Harmony Biosciences by 36.3% in the second quarter. Marshall Wace LLP now owns 1,209,484 shares of the company’s stock worth $38,220,000 after acquiring an additional 321,947 shares during the period. Geode Capital Management LLC boosted its stake in shares of Harmony Biosciences by 9.2% in the second quarter. Geode Capital Management LLC now owns 1,054,348 shares of the company’s stock worth $33,321,000 after acquiring an additional 88,598 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Harmony Biosciences by 127.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company’s stock worth $28,658,000 after acquiring an additional 508,498 shares during the period. 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.