Needham & Company LLC Reaffirms Buy Rating for Harmony Biosciences (NASDAQ:HRMY)

Needham & Company LLC reiterated their buy rating on shares of Harmony Biosciences (NASDAQ:HRMY) in a report published on Tuesday morning, Benzinga reports. They currently have a $52.00 target price on the stock.

Several other analysts have also weighed in on the company. Cantor Fitzgerald reissued an overweight rating and issued a $49.00 target price on shares of Harmony Biosciences in a report on Friday, April 12th. Citigroup began coverage on shares of Harmony Biosciences in a report on Friday, June 21st. They set a buy rating and a $48.00 target price for the company. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $41.67.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $33.52 on Tuesday. The business has a fifty day moving average of $31.50 and a two-hundred day moving average of $31.36. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.07 and a current ratio of 3.11. The company has a market cap of $1.90 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 0.81 and a beta of 0.72. Harmony Biosciences has a one year low of $18.61 and a one year high of $39.26.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.24. The company had revenue of $172.80 million during the quarter, compared to the consensus estimate of $172.53 million. Harmony Biosciences had a net margin of 22.30% and a return on equity of 28.26%. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period last year, the firm earned $0.56 EPS. As a group, analysts predict that Harmony Biosciences will post 1.79 earnings per share for the current fiscal year.

Institutional Trading of Harmony Biosciences

A number of hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. lifted its holdings in shares of Harmony Biosciences by 2,132.8% during the 4th quarter. Federated Hermes Inc. now owns 525,337 shares of the company’s stock worth $16,968,000 after acquiring an additional 501,809 shares during the period. LSV Asset Management increased its holdings in Harmony Biosciences by 346.5% in the 1st quarter. LSV Asset Management now owns 335,146 shares of the company’s stock valued at $11,254,000 after purchasing an additional 260,093 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Harmony Biosciences by 53.7% during the second quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock worth $20,562,000 after purchasing an additional 238,140 shares in the last quarter. Capital Management Corp VA acquired a new stake in shares of Harmony Biosciences in the first quarter valued at about $7,018,000. Finally, Janus Henderson Group PLC raised its holdings in shares of Harmony Biosciences by 1,011.7% during the 1st quarter. Janus Henderson Group PLC now owns 185,083 shares of the company’s stock valued at $6,214,000 after buying an additional 168,434 shares during the period. Institutional investors and hedge funds 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.