149,366 Shares of Harmony Biosciences Holdings, Inc. $HRMY Acquired by Penn Capital Management Company LLC

Penn Capital Management Company LLC purchased a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 149,366 shares of the company’s stock, valued at approximately $5,870,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. IFP Advisors Inc boosted its holdings in Harmony Biosciences by 3.7% in the 3rd quarter. IFP Advisors Inc now owns 8,399 shares of the company’s stock worth $330,000 after acquiring an additional 297 shares during the period. Farther Finance Advisors LLC grew its position in Harmony Biosciences by 166.7% in the third quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock valued at $32,000 after acquiring an additional 510 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Harmony Biosciences by 3.8% during the first quarter. Illinois Municipal Retirement Fund now owns 20,020 shares of the company’s stock valued at $561,000 after purchasing an additional 727 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of Harmony Biosciences by 4.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,566 shares of the company’s stock valued at $640,000 after purchasing an additional 787 shares during the period. Finally, Nykredit A S purchased a new stake in shares of Harmony Biosciences during the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Insider Buying and Selling at Harmony Biosciences

In other news, insider Kumar Budur sold 35,852 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $43.05, for a total transaction of $1,543,428.60. Following the completion of the sale, the insider owned 13,115 shares of the company’s stock, valued at approximately $564,600.75. This trade represents a 73.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 72,406 shares of company stock worth $3,108,520 over the last three months. 11.00% of the stock is currently owned by company insiders.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $33.78 on Tuesday. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.90 and a fifty-two week high of $43.49. The business has a 50 day moving average price of $39.25 and a two-hundred day moving average price of $34.69. The company has a quick ratio of 3.45, a current ratio of 3.44 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.97 billion, a PE ratio of 11.40, a price-to-earnings-growth ratio of 0.28 and a beta of 1.00.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.28). Harmony Biosciences had a return on equity of 18.55% and a net margin of 18.05%. The business had revenue of $268.92 million for the quarter, compared to analysts’ expectations of $272.05 million. During the same quarter in the prior year, the firm earned $1.08 earnings per share. Harmony Biosciences’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts expect that Harmony Biosciences Holdings, Inc. will post 3.69 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on HRMY. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $42.00 target price on shares of Harmony Biosciences in a research report on Thursday, October 1st. Mizuho set a $49.00 price target on shares of Harmony Biosciences in a report on Thursday, October 29th. UBS Group reaffirmed a “neutral” rating and set a $37.00 price target on shares of Harmony Biosciences in a report on Wednesday, August 5th. Wolfe Research assumed coverage on shares of Harmony Biosciences in a research note on Wednesday, August 26th. They set an “outperform” rating and a $60.00 price target on the stock. Finally, Oppenheimer reiterated an “outperform” rating on shares of Harmony Biosciences in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

Harmony Biosciences Company Profile

Harmony Biosciences is a biopharmaceutical company focused on developing and commercializing treatments for people living with rare neurological diseases. The company’s work centers on therapies intended to address significant unmet medical needs.

Its lead product, WAKIX (pitolisant), is approved in the United States to treat excessive daytime sleepiness or cataplexy in adults and pediatric patients aged 6 years and older with narcolepsy. Harmony launched WAKIX in the United States in 2019.

Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony primarily serves the U.S.