Chase Investment Counsel Corp raised its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY – Free Report) by 146.7% during the 1st quarter, Holdings Channel reports. The fund owned 50,000 shares of the company’s stock after purchasing an additional 29,734 shares during the period. Chase Investment Counsel Corp’s holdings in Harmony Biosciences were worth $1,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in HRMY. Summit Global Investments grew its stake in shares of Harmony Biosciences by 16.6% in the first quarter. Summit Global Investments now owns 27,034 shares of the company’s stock worth $757,000 after purchasing an additional 3,841 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Harmony Biosciences by 13.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company’s stock valued at $58,157,000 after purchasing an additional 245,784 shares in the last quarter. SEB Asset Management AB bought a new stake in shares of Harmony Biosciences during the first quarter valued at about $1,135,000. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Harmony Biosciences in the first quarter worth about $294,000. Finally, SteelPeak Wealth LLC acquired a new stake in Harmony Biosciences in the first quarter worth about $448,000. Institutional investors and hedge funds own 86.23% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on HRMY. Deutsche Bank Aktiengesellschaft increased their target price on shares of Harmony Biosciences from $30.00 to $36.00 and gave the company a “hold” rating in a research report on Tuesday, June 30th. Truist Financial upped their price target on shares of Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. HC Wainwright reiterated a “buy” rating and issued a $55.00 price objective on shares of Harmony Biosciences in a report on Thursday, July 16th. Zacks Research upgraded shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.
Harmony Biosciences Price Performance
NASDAQ:HRMY opened at $36.84 on Wednesday. The company has a quick ratio of 3.56, a current ratio of 3.58 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $33.66 and its 200 day moving average price is $32.64. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $40.87. The firm has a market cap of $2.13 billion, a P/E ratio of 14.85, a PEG ratio of 0.32 and a beta of 0.94.
Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The business had revenue of $215.39 million during the quarter, compared to analyst estimates of $220.84 million. During the same period in the previous year, the company posted $0.78 earnings per share. Harmony Biosciences’s revenue was up 16.6% compared to the same quarter last year. As a group, sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 3.26 earnings per share for the current fiscal year.
Harmony Biosciences Company Profile
Harmony Biosciences Holdings, Inc is a commercialâstage 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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