Cantor Fitzgerald Issues Positive Forecast for Harmony Biosciences (NASDAQ:HRMY) Stock Price

Harmony Biosciences (NASDAQ:HRMY) had its price target upped by Cantor Fitzgerald from $51.00 to $58.00 in a research report released on Wednesday morning, Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other research firms have also issued reports on HRMY. Oppenheimer reiterated an “outperform” rating and set a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Tuesday. UBS Group initiated coverage on shares of Harmony Biosciences in a research report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target for the company. Mizuho raised their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Raymond James reissued an “outperform” rating and set a $40.00 price target on shares of Harmony Biosciences in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Harmony Biosciences Trading Down 18.5 %

HRMY opened at $33.80 on Wednesday. The firm has a market capitalization of $1.92 billion, a P/E ratio of 17.33, a P/E/G ratio of 0.69 and a beta of 0.73. The firm’s 50 day moving average is $36.50 and its 200-day moving average is $33.10. Harmony Biosciences has a 52-week low of $22.00 and a 52-week high of $41.61. The company has a quick ratio of 3.09, a current ratio of 3.13 and a debt-to-equity ratio of 0.32.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. The company had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. Analysts expect that Harmony Biosciences will post 2.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Harmony Biosciences

Hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in Harmony Biosciences in the second quarter worth $36,000. CWM LLC boosted its holdings in Harmony Biosciences by 111.7% in the third quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after purchasing an additional 775 shares during the period. Quarry LP acquired a new position in Harmony Biosciences in the second quarter worth $62,000. Headlands Technologies LLC boosted its holdings in Harmony Biosciences by 1,608.1% in the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock worth $77,000 after purchasing an additional 2,396 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Harmony Biosciences by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $80,000 after purchasing an additional 360 shares during the period. Institutional investors and hedge funds 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.