Harmony Biosciences (NASDAQ:HRMY) Price Target Raised to $52.00 at Mizuho

Harmony Biosciences (NASDAQ:HRMY) had its target price increased by Mizuho from $42.00 to $52.00 in a research note released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

HRMY has been the subject of a number of other research reports. Citigroup began coverage on Harmony Biosciences in a research note on Friday, June 21st. They issued a buy rating and a $48.00 target price for the company. UBS Group began coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They issued a buy rating and a $56.00 target price for the company. Finally, Needham & Company LLC reissued a buy rating and issued a $52.00 target price on shares of Harmony Biosciences in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $44.11.

Harmony Biosciences Price Performance

HRMY stock traded down $0.22 during mid-day trading on Thursday, hitting $34.59. 85,632 shares of the stock were exchanged, compared to its average volume of 399,812. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.13 and a quick ratio of 3.09. The business has a fifty day moving average price of $36.14 and a 200 day moving average price of $32.74. Harmony Biosciences has a 12 month low of $18.61 and a 12 month high of $40.60. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 0.67 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.24. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The firm had revenue of $172.80 million during the quarter, compared to analyst estimates of $172.53 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue was up 28.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Harmony Biosciences will post 2.19 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HRMY. nVerses Capital LLC bought a new position in Harmony Biosciences during the 2nd quarter valued at approximately $36,000. CWM LLC grew its holdings in shares of Harmony Biosciences by 111.7% during the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after acquiring an additional 775 shares during the period. Quarry LP purchased a new position in shares of Harmony Biosciences during the 2nd quarter worth approximately $62,000. Headlands Technologies LLC grew its holdings in shares of Harmony Biosciences by 1,608.1% during the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock worth $77,000 after acquiring an additional 2,396 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Harmony Biosciences during the 2nd quarter worth approximately $138,000. Institutional investors own 86.23% of the company’s stock.

About Harmony Biosciences

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.