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 research report report published on Thursday morning, Benzinga reports. They currently have a $52.00 price objective on the stock.

HRMY has been the topic of a number of other research reports. UBS Group started coverage on Harmony Biosciences in a report on Tuesday, September 10th. They set a buy rating and a $56.00 price objective on the stock. Citigroup started coverage on Harmony Biosciences in a report on Friday, June 21st. They set a buy rating and a $48.00 price objective on the stock. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $41.33.

Harmony Biosciences Trading Up 3.0 %

NASDAQ:HRMY opened at $38.91 on Thursday. The firm has a market cap of $2.21 billion, a P/E ratio of 16.84, a PEG ratio of 0.75 and a beta of 0.73. The company has a current ratio of 3.13, a quick ratio of 3.09 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $34.69 and its 200-day simple moving average is $32.00. Harmony Biosciences has a 12-month low of $18.61 and a 12-month high of $39.21.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $172.53 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. Harmony Biosciences’s quarterly revenue was up 28.8% on a year-over-year basis. Equities analysts anticipate that Harmony Biosciences will post 2.19 EPS for the current year.

Institutional Trading of Harmony Biosciences

A number of institutional investors have recently bought and sold shares of the company. TFO Wealth Partners LLC lifted its position in shares of Harmony Biosciences by 98,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock valued at $32,000 after acquiring an additional 987 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Harmony Biosciences by 47.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $33,000 after acquiring an additional 329 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Harmony Biosciences in the second quarter valued at $36,000. Quarry LP purchased a new stake in shares of Harmony Biosciences in the second quarter valued at $62,000. Finally, Headlands Technologies LLC lifted its position in shares of Harmony Biosciences by 1,608.1% in the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after acquiring an additional 2,396 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.