Denali Advisors LLC Has $3.26 Million Position in Harmony Biosciences Holdings, Inc. $HRMY

Denali Advisors LLC boosted its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 49.6% during the second quarter, HoldingsChannel.com reports. The fund owned 89,600 shares of the company’s stock after purchasing an additional 29,700 shares during the period. Denali Advisors LLC’s holdings in Harmony Biosciences were worth $3,262,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HRMY. BlackRock Inc. acquired a new position in Harmony Biosciences in the second quarter worth about $258,583,000. SG Americas Securities LLC boosted its holdings in Harmony Biosciences by 109.9% during the first quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock valued at $56,529,000 after purchasing an additional 1,056,507 shares in the last quarter. Armistice Capital LLC acquired a new stake in Harmony Biosciences during the fourth quarter valued at approximately $18,710,000. AQR Capital Management LLC grew its stake in shares of Harmony Biosciences by 128.9% in the 4th quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock valued at $30,456,000 after purchasing an additional 458,321 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Harmony Biosciences by 42.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock valued at $35,701,000 after purchasing an additional 388,472 shares during the period. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

NASDAQ:HRMY opened at $39.93 on Thursday. Harmony Biosciences Holdings, Inc. has a 1 year low of $25.52 and a 1 year high of $40.87. The firm has a 50 day moving average of $36.19 and a 200-day moving average of $32.71. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.33 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 0.36 and a beta of 0.96.

Harmony Biosciences (NASDAQ:HRMY) last announced its 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 the consensus estimate of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.Harmony Biosciences’s revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.92 EPS. As a group, sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the company. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Harmony Biosciences in a research report on Thursday, July 16th. Needham & Company LLC upped their price target on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Zacks Research lowered Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. UBS Group reissued a “neutral” rating and set a $37.00 price objective on shares of Harmony Biosciences in a report on Wednesday, August 5th. Finally, Truist Financial boosted their target price on shares of Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Harmony Biosciences presently has an average rating of “Hold” and a consensus price target of $45.50.

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.