Entropy Technologies LP Acquires Shares of 19,873 Harmony Biosciences Holdings, Inc. $HRMY

Entropy Technologies LP acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,873 shares of the company’s stock, valued at approximately $557,000.

Several other large investors also recently made changes to their positions in the business. Ruffer LLP bought a new position in shares of Harmony Biosciences in the fourth quarter valued at about $1,536,000. CX Institutional lifted its position in Harmony Biosciences by 19.7% during the 4th quarter. CX Institutional now owns 275,809 shares of the company’s stock worth $10,321,000 after buying an additional 45,376 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Harmony Biosciences during the 4th quarter worth about $655,000. Convergence Investment Partners LLC bought a new stake in Harmony Biosciences during the 4th quarter worth about $961,000. Finally, BNP Paribas Financial Markets increased its position in Harmony Biosciences by 32.9% in the 4th quarter. BNP Paribas Financial Markets now owns 525,145 shares of the company’s stock valued at $19,651,000 after acquiring an additional 130,001 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $35.82 on Thursday. The business’s 50-day simple moving average is $34.27 and its 200 day simple moving average is $32.56. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 0.33 and a beta of 0.94. Harmony Biosciences Holdings, Inc. has a 12-month low of $25.52 and a 12-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 announced its quarterly earnings data on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). The firm had revenue of $215.39 million during the quarter, compared to analyst estimates of $220.84 million. Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.Harmony Biosciences’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 earnings per share. As a group, research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HRMY shares. Truist Financial boosted their target price on shares of Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. HC Wainwright reissued a “buy” rating and set a $55.00 price target on shares of Harmony Biosciences in a research note on Thursday, July 16th. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Harmony Biosciences from $30.00 to $36.00 and gave the company a “hold” rating in a report on Tuesday, June 30th. Finally, Zacks Research upgraded shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Harmony Biosciences 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.