Harmony Biosciences’ (HRMY) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a research note issued to investors on Thursday morning,Benzinga reports. HC Wainwright currently has a $55.00 target price on the stock.

A number of other research analysts have also commented on HRMY. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Harmony Biosciences from $30.00 to $36.00 and gave the company a “hold” rating in a research report on Tuesday, June 30th. Zacks Research upgraded Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Finally, Truist Financial raised their target price on Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Harmony Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Harmony Biosciences Stock Up 0.7%

HRMY opened at $33.77 on Thursday. The business has a 50 day moving average of $33.46 and a 200-day moving average of $32.71. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 0.32 and a beta of 0.94. The company has a current ratio of 3.58, a quick ratio of 3.56 and a debt-to-equity ratio of 0.15. Harmony Biosciences has a 1-year low of $25.52 and a 1-year high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). The company had revenue of $215.39 million for the quarter, compared to the consensus estimate of $220.84 million. Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The company’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $0.78 EPS. As a group, sell-side analysts anticipate that Harmony Biosciences will post 3.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC raised its position in shares of Harmony Biosciences by 109.9% during the first quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after acquiring an additional 1,056,507 shares during the last quarter. Armistice Capital LLC bought a new position in Harmony Biosciences in the fourth quarter valued at about $18,710,000. AQR Capital Management LLC increased its position in Harmony Biosciences by 128.9% in the fourth quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock worth $30,456,000 after purchasing an additional 458,321 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Harmony Biosciences by 42.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock worth $35,701,000 after purchasing an additional 388,472 shares during the period. Finally, UBS Group AG raised its holdings in Harmony Biosciences by 213.3% during the 3rd quarter. UBS Group AG now owns 503,081 shares of the company’s stock worth $13,865,000 after purchasing an additional 342,505 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Company Profile

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.