Quantbot Technologies LP Purchases New Position in Harmony Biosciences Holdings, Inc. $HRMY

Quantbot Technologies LP acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,614 shares of the company’s stock, valued at approximately $532,000.

Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. bought a new position in Harmony Biosciences during the 2nd quarter valued at about $258,583,000. Dimensional Fund Advisors LP grew its position in shares of Harmony Biosciences by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company’s stock valued at $58,157,000 after acquiring an additional 245,784 shares during the period. SG Americas Securities LLC increased its position in Harmony Biosciences by 109.9% in the first quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after buying an additional 1,056,507 shares in the last quarter. State Street Corp increased its holdings in Harmony Biosciences by 0.5% in the 4th quarter. State Street Corp now owns 1,661,850 shares of the company’s stock worth $62,186,000 after acquiring an additional 8,246 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Harmony Biosciences by 3.9% in the fourth quarter. LSV Asset Management now owns 1,657,093 shares of the company’s stock worth $62,008,000 after purchasing an additional 62,200 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Oppenheimer reissued an “outperform” rating and set a $70.00 target price on shares of Harmony Biosciences in a research note on Tuesday, August 4th. Wolfe Research started coverage on shares of Harmony Biosciences in a report on Wednesday. They issued an “outperform” rating and a $60.00 price target on the stock. UBS Group reiterated a “neutral” rating and issued a $37.00 price target on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Finally, Wall Street Zen upgraded Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Harmony Biosciences has a consensus rating of “Hold” and an average target price of $47.11.

Harmony Biosciences Trading Up 0.5%

HRMY stock opened at $39.87 on Friday. The firm has a fifty day moving average price of $36.76 and a 200 day moving average price of $32.78. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $40.87. The firm has a market cap of $2.32 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 0.37 and a beta of 0.96. 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 (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The company had revenue of $261.28 million for the quarter, compared to the consensus estimate of $250.77 million. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Harmony Biosciences’s revenue was up 30.3% on a year-over-year basis. Sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

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.