Harmony Biosciences (NASDAQ:HRMY) Now Covered by Citigroup

Citigroup began coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a research note released on Friday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $48.00 price target on the stock.

Several other research analysts have also recently weighed in on the company. 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. Cantor Fitzgerald reaffirmed an overweight rating and set a $49.00 target price on shares of Harmony Biosciences in a research note on Friday, April 12th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday, April 30th. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $41.67.

Harmony Biosciences Trading Down 0.1 %

NASDAQ:HRMY opened at $30.10 on Friday. Harmony Biosciences has a 1 year low of $18.61 and a 1 year high of $39.26. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 0.65 and a beta of 0.72. The business has a fifty day moving average of $29.82 and a 200-day moving average of $31.27. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.07 and a current ratio of 3.11.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. Harmony Biosciences had a return on equity of 28.26% and a net margin of 22.30%. The company had revenue of $154.62 million during the quarter, compared to analysts’ expectations of $154.10 million. During the same quarter in the prior year, the business posted $0.48 earnings per share. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. Equities analysts predict that Harmony Biosciences will post 1.96 earnings per share for the current year.

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of HRMY. Swiss National Bank lifted its stake in Harmony Biosciences by 10.2% in the 3rd quarter. Swiss National Bank now owns 79,100 shares of the company’s stock worth $2,592,000 after acquiring an additional 7,300 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Harmony Biosciences in the 3rd quarter worth about $686,000. Charles Schwab Investment Management Inc. lifted its stake in Harmony Biosciences by 17.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 290,911 shares of the company’s stock worth $9,533,000 after acquiring an additional 42,736 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Harmony Biosciences in the 3rd quarter worth about $370,000. Finally, Texas Permanent School Fund Corp lifted its stake in Harmony Biosciences by 8.1% in the 3rd quarter. Texas Permanent School Fund Corp now owns 28,524 shares of the company’s stock worth $935,000 after acquiring an additional 2,141 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

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.