OMERS ADMINISTRATION Corp Grows Position in Harmony Biosciences Holdings, Inc. $HRMY

OMERS ADMINISTRATION Corp raised its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 144.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 30,990 shares of the company’s stock after purchasing an additional 18,300 shares during the period. OMERS ADMINISTRATION Corp owned 0.05% of Harmony Biosciences worth $868,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Entropy Technologies LP purchased a new stake in shares of Harmony Biosciences in the 1st quarter worth approximately $557,000. Renaissance Technologies LLC increased its holdings in Harmony Biosciences by 0.6% during the first quarter. Renaissance Technologies LLC now owns 1,077,371 shares of the company’s stock valued at $30,177,000 after buying an additional 6,900 shares during the period. Sei Investments Co. increased its holdings in Harmony Biosciences by 163.7% during the first quarter. Sei Investments Co. now owns 194,188 shares of the company’s stock valued at $5,439,000 after buying an additional 120,554 shares during the period. Chase Investment Counsel Corp raised its stake in Harmony Biosciences by 146.7% in the first quarter. Chase Investment Counsel Corp now owns 50,000 shares of the company’s stock worth $1,400,000 after buying an additional 29,734 shares in the last quarter. Finally, Summit Global Investments raised its stake in Harmony Biosciences by 16.6% in the first quarter. Summit Global Investments now owns 27,034 shares of the company’s stock worth $757,000 after buying an additional 3,841 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Shares of HRMY opened at $35.86 on Friday. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.33 and a beta of 0.94. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve 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. The company has a 50 day moving average of $34.38 and a two-hundred day moving average of $32.54.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The business had revenue of $215.39 million for the quarter, compared to analyst estimates of $220.84 million. During the same period in the previous year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, analysts predict that Harmony Biosciences Holdings, Inc. will post 3.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.