Harmony Biosciences (NASDAQ:HRMY) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of Harmony Biosciences (NASDAQ:HRMY) from a strong-buy rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

Several other equities research analysts also recently commented on HRMY. Weiss Ratings reissued a “hold (c)” rating on shares of Harmony Biosciences in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft lowered Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a report on Monday. HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a report on Wednesday. Bank of America decreased their price target on Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating for the company in a report on Wednesday. Finally, UBS Group lowered their price target on Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $42.67.

Harmony Biosciences Price Performance

Shares of HRMY opened at $29.05 on Wednesday. The business’s fifty day moving average is $36.19 and its 200 day moving average is $34.12. Harmony Biosciences has a 12-month low of $25.52 and a 12-month high of $40.87. The company has a quick ratio of 3.72, a current ratio of 3.60 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.68 billion, a P/E ratio of 10.72, a P/E/G ratio of 0.39 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.46). Harmony Biosciences had a net margin of 18.29% and a return on equity of 19.86%. The business had revenue of $243.78 million for the quarter, compared to the consensus estimate of $240.04 million. During the same quarter last year, the firm posted $0.85 EPS. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. Sell-side analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Harmony Biosciences

In other news, CEO Jeffrey M. Dayno sold 25,933 shares of Harmony Biosciences stock in a transaction on Friday, December 12th. The stock was sold at an average price of $40.11, for a total transaction of $1,040,172.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sandip Kapadia sold 20,961 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $35.92, for a total transaction of $752,919.12. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 50,640 shares of company stock worth $1,932,256. Insiders own 23.60% of the company’s stock.

Institutional Trading of Harmony Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Harmony Biosciences by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,830,726 shares of the company’s stock valued at $68,507,000 after acquiring an additional 139,145 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Harmony Biosciences by 11.2% in the 3rd quarter. American Century Companies Inc. now owns 1,669,565 shares of the company’s stock worth $46,013,000 after purchasing an additional 168,145 shares during the period. State Street Corp raised its holdings in shares of Harmony Biosciences by 0.5% in the 4th quarter. State Street Corp now owns 1,661,850 shares of the company’s stock worth $62,186,000 after purchasing an additional 8,246 shares during the period. LSV Asset Management lifted its stake in Harmony Biosciences by 3.9% in the fourth quarter. LSV Asset Management now owns 1,657,093 shares of the company’s stock valued at $62,008,000 after purchasing an additional 62,200 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Harmony Biosciences by 15.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,491,605 shares of the company’s stock valued at $55,816,000 after purchasing an additional 196,224 shares during the period. Institutional investors own 86.23% of the company’s stock.

Trending Headlines about Harmony Biosciences

Here are the key news stories impacting Harmony Biosciences this week:

• Positive Sentiment: HC Wainwright reaffirmed its “buy” rating and kept a $55 price target, signaling strong upside from current levels and providing bullish support for long investors. HC Wainwright Reaffirms Buy
• Positive Sentiment: Needham & Company maintained a “buy” rating and a $44 target after a small cut, which keeps another buy-side endorsement in the tape and supports demand from growth-oriented investors. Needham Buy Rating
• Neutral Sentiment: UBS trimmed its price target from $46 to $36 and set a “neutral” rating — a meaningful reduction in upside but not a sell call, which may temper enthusiasm without forcing broad liquidation. UBS Lowers PT to $36
• Neutral Sentiment: An analyst-aggregate report shows an average rating of “Moderate Buy,” indicating mixed but overall constructive analyst sentiment that can limit downside from negative headlines. Analyst Average Rating
• Negative Sentiment: Truist Securities downgraded HRMY to “Hold” after developments in a patent trial, flagging increased legal/competitive risk that could pressure future revenue or margins if adverse outcomes persist. Truist Downgrade After Patent Trial
• Negative Sentiment: Bank of America cut its price target to $28 and moved to an “underperform” rating, which is explicitly bearish and adds selling pressure from institutional accounts that follow BofA coverage. BofA Lowers PT to $28

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.