Legato Capital Management LLC Has $988,000 Stock Position in Harmony Biosciences Holdings, Inc. $HRMY

Legato Capital Management LLC lessened its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 48.7% during the fourth quarter, HoldingsChannel reports. The fund owned 26,391 shares of the company’s stock after selling 25,024 shares during the quarter. Legato Capital Management LLC’s holdings in Harmony Biosciences were worth $988,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of Harmony Biosciences by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,691,581 shares of the company’s stock worth $46,620,000 after acquiring an additional 109,405 shares during the last quarter. American Century Companies Inc. increased its stake in Harmony Biosciences by 11.2% in the 3rd quarter. American Century Companies Inc. now owns 1,669,565 shares of the company’s stock valued at $46,013,000 after buying an additional 168,145 shares during the last quarter. LSV Asset Management increased its stake in Harmony Biosciences by 3.9% in the 4th quarter. LSV Asset Management now owns 1,657,093 shares of the company’s stock valued at $62,008,000 after buying an additional 62,200 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in 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 buying an additional 388,472 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Harmony Biosciences by 4,102.4% during the 4th quarter. SG Americas Securities LLC now owns 961,667 shares of the company’s stock valued at $35,986,000 after acquiring an additional 938,783 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HRMY. Zacks Research raised shares of Harmony Biosciences from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Monday, February 23rd. Mizuho set a $50.00 price objective on shares of Harmony Biosciences in a report on Thursday, February 19th. HC Wainwright reaffirmed a “buy” rating on shares of Harmony Biosciences in a report on Friday. Finally, Wall Street Zen cut shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.89.

Harmony Biosciences Stock Performance

NASDAQ:HRMY opened at $30.15 on Tuesday. The company’s 50-day simple moving average is $29.47 and its 200 day simple moving average is $33.19. The firm has a market capitalization of $1.75 billion, a P/E ratio of 12.16, a PEG ratio of 0.20 and a beta of 0.97. Harmony Biosciences Holdings, Inc. has a one year low of $25.52 and a one year high of $40.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.58 and a quick ratio of 3.56.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.21). The firm had revenue of $215.39 million during the quarter, compared to the consensus estimate of $220.84 million. Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 EPS. As a group, analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.2 EPS 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.