Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY – Get Free Report) saw strong trading volume on Thursday after Cantor Fitzgerald raised their price target on the stock from $51.00 to $58.00. Cantor Fitzgerald currently has an overweight rating on the stock. 1,848,996 shares were traded during mid-day trading, an increase of 333% from the previous session’s volume of 427,403 shares.The stock last traded at $32.53 and had previously closed at $33.80.
HRMY has been the topic of several other reports. UBS Group assumed coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a report on Tuesday. Oppenheimer reaffirmed an “outperform” rating and set a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday. Raymond James reiterated an “outperform” rating and issued a $40.00 target price on shares of Harmony Biosciences in a report on Thursday, October 10th. Finally, Mizuho upped their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.00.
View Our Latest Stock Analysis on Harmony Biosciences
Institutional Trading of Harmony Biosciences
Harmony Biosciences Stock Down 4.8 %
The firm’s 50 day simple moving average is $36.44 and its two-hundred day simple moving average is $33.11. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 0.69 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.
Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The business had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. During the same period in the previous year, the company posted $0.63 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.23 EPS for the current year.
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.
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