The Manufacturers Life Insurance Company Takes $870,000 Position in Harmony Biosciences Holdings, Inc. $HRMY

The Manufacturers Life Insurance Company purchased a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMYFree Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,883 shares of the company’s stock, valued at approximately $870,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HRMY. EverSource Wealth Advisors LLC boosted its holdings in Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after acquiring an additional 643 shares during the period. Leonteq Securities AG purchased a new stake in Harmony Biosciences in the fourth quarter worth $30,000. Allworth Financial LP lifted its position in shares of Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after purchasing an additional 602 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of Harmony Biosciences during the third quarter worth $40,000. Finally, Clearstead Advisors LLC lifted its position in shares of Harmony Biosciences by 145.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after purchasing an additional 699 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Price Performance

HRMY opened at $42.25 on Friday. Harmony Biosciences Holdings, Inc. has a 12-month low of $25.52 and a 12-month high of $43.49. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. The business’s fifty day simple moving average is $37.60 and its 200-day simple moving average is $32.99. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.39 and a beta of 0.93.

Harmony Biosciences (NASDAQ:HRMYGet Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.32. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The firm had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. During the same period in the previous year, the company posted $0.92 earnings per share. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. On average, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HRMY has been the topic of a number of research analyst reports. Truist Financial upped their price target on shares of Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of Harmony Biosciences in a report on Thursday, July 16th. Zacks Research cut shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Wolfe Research started coverage on shares of Harmony Biosciences in a research note on Wednesday, August 26th. They issued an “outperform” rating and a $60.00 target price on the stock. Finally, Needham & Company LLC raised their target price on shares of Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $47.11.

Check Out Our Latest Research Report on HRMY

About Harmony Biosciences

(Free Report)

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.

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Institutional Ownership by Quarter for Harmony Biosciences (NASDAQ:HRMY)

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