CX Institutional Purchases 14,809 Shares of Harmony Biosciences Holdings, Inc. $HRMY

CX Institutional increased its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 6.1% in the second quarter, Holdings Channel.com reports. The fund owned 259,496 shares of the company’s stock after purchasing an additional 14,809 shares during the period. CX Institutional’s holdings in Harmony Biosciences were worth $9,448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HRMY. Dimensional Fund Advisors LP boosted its stake in Harmony Biosciences by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company’s stock valued at $58,157,000 after purchasing an additional 245,784 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of 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. State Street Corp boosted its position in shares of Harmony Biosciences by 0.5% during the fourth quarter. State Street Corp now owns 1,661,850 shares of the company’s stock valued at $62,186,000 after buying an additional 8,246 shares during the last quarter. LSV Asset Management boosted its position in shares of Harmony Biosciences by 3.9% during the fourth 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. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Harmony Biosciences by 15.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,491,605 shares of the company’s stock worth $55,816,000 after buying an additional 196,224 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HRMY has been the subject of a number of recent analyst reports. Zacks Research raised Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. 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. HC Wainwright reiterated a “buy” rating and issued 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. Finally, Mizuho increased their price objective on shares of Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.62.

Harmony Biosciences Trading Up 1.0%

Harmony Biosciences stock opened at $35.60 on Tuesday. The business has a 50-day simple moving average of $34.59 and a two-hundred day simple moving average of $32.52. The company has a market cap of $2.06 billion, a P/E ratio of 14.35, a P/E/G ratio of 0.33 and a beta of 0.96. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week 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 released its quarterly earnings results on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.21). Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The business had revenue of $215.39 million for the quarter, compared to analysts’ expectations of $220.84 million. During the same period in the previous year, the company earned $0.78 EPS. Harmony Biosciences’s revenue for the quarter was up 16.6% compared to the same quarter last year. Analysts predict that Harmony Biosciences Holdings, Inc. will post 3.3 EPS for the current year.

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.