Harmony Biosciences' (HRMY) "Outperform" Rating Reaffirmed at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Harmony Biosciences (NASDAQ:HRMY - Free Report) in a research note released on Wednesday, Benzinga reports. Oppenheimer currently has a $59.00 price target on the stock, up from their prior price target of $56.00.

HRMY has been the topic of a number of other reports. UBS Group started coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They issued a "buy" rating and a $56.00 price target on the stock. Mizuho boosted their target price on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an "outperform" rating in a research note on Thursday, October 10th. Raymond James restated an "outperform" rating and set a $40.00 price target on shares of Harmony Biosciences in a research note on Thursday, October 10th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research note on Tuesday. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company's stock. According to MarketBeat, Harmony Biosciences has a consensus rating of "Moderate Buy" and a consensus price target of $47.00.

Harmony Biosciences Stock Down 18.5 %

NASDAQ:HRMY traded down $7.69 on Wednesday, hitting $33.80. The stock had a trading volume of 2,887,437 shares, compared to its average volume of 422,945. Harmony Biosciences has a 1 year low of $22.00 and a 1 year high of $41.61. The firm's fifty day simple moving average is $36.50 and its two-hundred day simple moving average is $33.10. 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 stock has a market cap of $1.92 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 0.69 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.15. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The company had revenue of $186.00 million during the quarter, compared to the consensus estimate of $184.07 million. During the same period last year, the business posted $0.63 earnings per share. Harmony Biosciences's revenue was up 16.0% on a year-over-year basis. Analysts predict that Harmony Biosciences will post 2.23 earnings per share for the current year.

Institutional Trading of Harmony Biosciences

A number of institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Harmony Biosciences by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock worth $80,000 after buying an additional 360 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Harmony Biosciences by 1.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company's stock valued at $1,184,000 after purchasing an additional 397 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Harmony Biosciences by 1.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company's stock valued at $964,000 after purchasing an additional 517 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Harmony Biosciences by 7.0% in the first quarter. ProShare Advisors LLC now owns 10,488 shares of the company's stock worth $352,000 after purchasing an additional 684 shares during the period. Finally, Profund Advisors LLC raised its position in shares of Harmony Biosciences by 11.1% in the second quarter. Profund Advisors LLC now owns 7,557 shares of the company's stock worth $228,000 after buying an additional 758 shares in the last quarter. Hedge funds and other institutional investors 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.