Quantbot Technologies LP bought a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,614 shares of the company’s stock, valued at approximately $532,000.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Harmony Biosciences in the 2nd quarter valued at about $258,583,000. SG Americas Securities LLC increased its position in shares of Harmony Biosciences by 109.9% during the first quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock valued at $56,529,000 after buying an additional 1,056,507 shares during the period. Armistice Capital LLC bought a new position in Harmony Biosciences in the fourth quarter worth about $18,710,000. AQR Capital Management LLC lifted its holdings in Harmony Biosciences by 128.9% in the fourth quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock worth $30,456,000 after buying an additional 458,321 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Harmony Biosciences by 42.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock valued at $35,701,000 after acquiring an additional 388,472 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on HRMY. Weiss Ratings raised Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Wolfe Research assumed coverage on Harmony Biosciences in a research report on Wednesday. They set an “outperform” rating and a $60.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a research note on Thursday, July 16th. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price objective on shares of Harmony Biosciences in a report on Tuesday, August 4th. Finally, Mizuho boosted their target price on shares of Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $47.11.
Harmony Biosciences Price Performance
HRMY stock opened at $39.87 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. The firm has a 50 day moving average price of $36.76 and a 200-day moving average price of $32.78. 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 capitalization of $2.32 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 0.37 and a beta of 0.96.
Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.32. The company had revenue of $261.28 million for the quarter, compared to the consensus estimate of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 EPS. Equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.
Harmony Biosciences Company Profile
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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