CX Institutional Acquires New Shares in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

CX Institutional acquired a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the first quarter, Holdings Channel.com reports. The fund acquired 77,867 shares of the company’s stock, valued at approximately $2,584,000.

Other large investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new stake in shares of Harmony Biosciences during the first quarter valued at about $29,000. GF Fund Management CO. LTD. purchased a new position in Harmony Biosciences during the fourth quarter valued at approximately $41,000. PNC Financial Services Group Inc. grew its stake in Harmony Biosciences by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock valued at $80,000 after acquiring an additional 519 shares in the last quarter. GAMMA Investing LLC increased its holdings in Harmony Biosciences by 222.9% during the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company’s stock worth $97,000 after acquiring an additional 2,022 shares during the period. Finally, Virtus Investment Advisers Inc. purchased a new stake in Harmony Biosciences in the 4th quarter worth approximately $124,000. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Trading Down 2.0%

NASDAQ HRMY opened at $35.14 on Thursday. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The stock’s 50-day simple moving average is $32.04 and its two-hundred day simple moving average is $34.10. Harmony Biosciences Holdings, Inc. has a twelve month low of $26.47 and a twelve month high of $41.61. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.47 and a beta of 0.87.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.59 by $0.19. The firm had revenue of $184.73 million for the quarter, compared to analyst estimates of $184.26 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS. Research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HRMY shares. Oppenheimer initiated coverage on Harmony Biosciences in a research note on Monday, June 2nd. They set an “outperform” rating and a $61.00 price objective for the company. UBS Group lowered their price target on Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Monday, April 28th. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Needham & Company LLC reissued a “buy” rating and set a $49.00 price objective on shares of Harmony Biosciences in a report on Tuesday, May 6th. Finally, Mizuho upped their price objective on shares of Harmony Biosciences from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $53.00.

Harmony Biosciences 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.