Edgestream Partners L.P. Increases Stock Holdings in Harmony Biosciences Holdings, Inc. $HRMY

Edgestream Partners L.P. boosted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 52.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,130 shares of the company’s stock after acquiring an additional 47,303 shares during the period. Edgestream Partners L.P.’s holdings in Harmony Biosciences were worth $3,869,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in Harmony Biosciences by 589.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after purchasing an additional 643 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of Harmony Biosciences during the 4th quarter valued at about $30,000. Allworth Financial LP boosted its stake in shares of Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after purchasing an additional 602 shares in the last quarter. Clearstead Advisors LLC boosted its stake in shares of Harmony Biosciences by 145.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after purchasing an additional 699 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Harmony Biosciences during the fourth quarter valued at about $47,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Stock Down 1.7%

HRMY stock opened at $35.24 on Friday. The business has a 50 day moving average of $34.48 and a 200 day moving average of $32.56. The firm has a market cap of $2.04 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.33 and a beta of 0.94. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $40.87. The company has a quick ratio of 3.56, a current ratio of 3.58 and a debt-to-equity ratio of 0.15.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.21). The company had revenue of $215.39 million during the quarter, compared to the consensus estimate of $220.84 million. Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The company’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. On average, research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HRMY has been the subject of a number of research reports. Mizuho increased their price target on shares of Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday. Weiss Ratings upgraded Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Zacks Research upgraded Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Truist Financial lifted their price target on Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Harmony Biosciences has a consensus rating of “Moderate Buy” and an average target price of $42.62.

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.