Harmony Biosciences (NASDAQ:HRMY) Shares Up 3.1%

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMYGet Free Report)’s share price shot up 3.1% on Tuesday . The company traded as high as $37.17 and last traded at $37.06. 140,971 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 670,705 shares. The stock had previously closed at $35.95.

Analysts Set New Price Targets

Several research analysts recently weighed in on HRMY shares. Mizuho restated a “buy” rating and issued a $54.00 price objective on shares of Harmony Biosciences in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 price target on shares of Harmony Biosciences in a report on Tuesday, August 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $75.00 price objective on shares of Harmony Biosciences in a report on Tuesday, August 22nd. Berenberg Bank initiated coverage on shares of Harmony Biosciences in a research note on Thursday, September 7th. They issued a “buy” rating and a $59.00 target price on the stock. Finally, Raymond James dropped their price target on shares of Harmony Biosciences from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Harmony Biosciences has an average rating of “Moderate Buy” and a consensus price target of $60.78.

Get Our Latest Stock Report on Harmony Biosciences

Harmony Biosciences Stock Performance

The company has a quick ratio of 4.84, a current ratio of 4.90 and a debt-to-equity ratio of 0.37. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 0.54 and a beta of 0.43. The stock’s fifty day moving average is $34.78 and its 200-day moving average is $35.46.

Harmony Biosciences (NASDAQ:HRMYGet Free Report) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.06). Harmony Biosciences had a net margin of 40.16% and a return on equity of 42.49%. The business had revenue of $134.22 million for the quarter, compared to the consensus estimate of $139.79 million. On average, analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.4 EPS for the current year.

Institutional Investors Weigh In On Harmony Biosciences

Several large investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC acquired a new position in Harmony Biosciences in the 2nd quarter worth $25,000. First Horizon Advisors Inc. acquired a new stake in Harmony Biosciences in the 4th quarter valued at approximately $26,000. Platinum Investment Management Ltd. bought a new stake in Harmony Biosciences in the 1st quarter valued at approximately $43,000. Lazard Asset Management LLC acquired a new position in Harmony Biosciences during the 2nd quarter worth approximately $61,000. Finally, Metropolitan Life Insurance Co NY grew its stake in shares of Harmony Biosciences by 21.1% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 1,818 shares of the company’s stock worth $64,000 after acquiring an additional 317 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Company Profile

(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. It offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.

Read More

Receive News & Ratings for Harmony Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harmony Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.