Harmony Biosciences (NASDAQ:HRMY) Coverage Initiated at Citigroup

Citigroup began coverage on shares of Harmony Biosciences (NASDAQ:HRMYFree Report) in a report released on Friday, MarketBeat reports. The brokerage issued a buy rating and a $48.00 price objective on the stock.

Other research analysts have also recently issued reports about the company. Needham & Company LLC reissued a buy rating and issued a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday, April 30th. Cantor Fitzgerald reissued an overweight rating and issued a $49.00 target price on shares of Harmony Biosciences in a research note on Friday, April 12th. Finally, Mizuho decreased their target price on Harmony Biosciences from $42.00 to $40.00 and set a buy rating for the company in a research note on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $41.67.

Get Our Latest Report on HRMY

Harmony Biosciences Stock Down 0.1 %

Shares of Harmony Biosciences stock opened at $30.10 on Friday. The company has a quick ratio of 3.07, a current ratio of 3.11 and a debt-to-equity ratio of 0.34. Harmony Biosciences has a 12 month low of $18.61 and a 12 month high of $39.26. The business has a fifty day simple moving average of $29.82 and a 200 day simple moving average of $31.27. The stock has a market cap of $1.71 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.65 and a beta of 0.72.

Harmony Biosciences (NASDAQ:HRMYGet Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Harmony Biosciences had a return on equity of 28.26% and a net margin of 22.30%. The firm had revenue of $154.62 million during the quarter, compared to analysts’ expectations of $154.10 million. During the same period in the previous year, the firm earned $0.48 earnings per share. The company’s revenue was up 29.8% on a year-over-year basis. Research analysts predict that Harmony Biosciences will post 1.96 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HRMY. Exchange Traded Concepts LLC raised its holdings in Harmony Biosciences by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 40,889 shares of the company’s stock worth $1,321,000 after acquiring an additional 328 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Harmony Biosciences by 47.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after acquiring an additional 329 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Harmony Biosciences by 1.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock worth $1,184,000 after acquiring an additional 397 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in Harmony Biosciences by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock worth $964,000 after acquiring an additional 517 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in Harmony Biosciences by 7.0% during the first quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock worth $352,000 after acquiring an additional 684 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

About Harmony Biosciences

(Get Free Report)

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.

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Analyst Recommendations for Harmony Biosciences (NASDAQ:HRMY)

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