BlackRock Inc. Makes New Investment in Harmony Biosciences Holdings, Inc. $HRMY

BlackRock Inc. purchased a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,101,965 shares of the company’s stock, valued at approximately $258,583,000. BlackRock Inc. owned 0.12% of Harmony Biosciences as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in Harmony Biosciences by 589.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after buying an additional 643 shares during the period. Allworth Financial LP lifted its position in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after acquiring an additional 602 shares during the last quarter. Leonteq Securities AG acquired a new stake in shares of Harmony Biosciences in the 4th quarter worth $30,000. National Bank of Canada FI acquired a new stake in Harmony Biosciences in the 3rd quarter worth approximately $40,000. Finally, Clearstead Advisors LLC grew its stake in 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 during the last quarter. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY opened at $39.66 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. Harmony Biosciences Holdings, Inc. has a one year low of $25.52 and a one year high of $40.87. The business’s 50-day simple moving average is $36.63 and its 200 day simple moving average is $32.76. The company has a market cap of $2.31 billion, a P/E ratio of 12.88, a PEG ratio of 0.36 and a beta of 0.96.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $0.96 by $0.32. The business had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 earnings per share. On average, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. UBS Group restated a “neutral” rating and set a $37.00 price target on shares of Harmony Biosciences in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $39.00 target price on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Wolfe Research began coverage on shares of Harmony Biosciences in a research note on Wednesday. They issued an “outperform” rating and a $60.00 price target for the company. Finally, Weiss Ratings upgraded shares of Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Harmony Biosciences presently has a consensus rating of “Hold” and a consensus target price of $47.11.

About Harmony Biosciences

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.