Harmony Biosciences (NASDAQ:HRMY) Coverage Initiated at UBS Group

UBS Group began coverage on shares of Harmony Biosciences (NASDAQ:HRMY) in a research note published on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $56.00 price target on the stock.

Several other analysts have also recently commented on HRMY. Citigroup started coverage on Harmony Biosciences in a report on Friday, June 21st. They set a buy rating and a $48.00 target price on the stock. Needham & Company LLC reissued a buy rating and set a $52.00 price objective on shares of Harmony Biosciences in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $41.33.

Harmony Biosciences Stock Up 1.3 %

HRMY opened at $37.76 on Tuesday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.71 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13. The firm’s 50-day simple moving average is $34.41 and its 200-day simple moving average is $31.94. Harmony Biosciences has a twelve month low of $18.61 and a twelve month high of $39.26.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.24. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The firm had revenue of $172.80 million for the quarter, compared to analysts’ expectations of $172.53 million. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share. Equities research analysts anticipate that Harmony Biosciences will post 2.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

Institutional investors have recently modified their holdings of the business. Cim LLC grew its holdings in Harmony Biosciences by 14.4% during the 2nd quarter. Cim LLC now owns 13,521 shares of the company’s stock worth $408,000 after acquiring an additional 1,705 shares during the period. Quarry LP bought a new position in shares of Harmony Biosciences in the 2nd quarter worth $62,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Harmony Biosciences during the second quarter worth $465,000. Millennium Management LLC increased its holdings in Harmony Biosciences by 51.6% in the second quarter. Millennium Management LLC now owns 307,420 shares of the company’s stock valued at $9,275,000 after purchasing an additional 104,691 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Harmony Biosciences by 0.7% in the second quarter. AQR Capital Management LLC now owns 154,345 shares of the company’s stock valued at $4,657,000 after buying an additional 1,116 shares during the period. 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.