Foster & Motley Inc. Acquires Shares of 18,867 Harmony Biosciences Holdings, Inc. $HRMY

Foster & Motley Inc. acquired a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 18,867 shares of the company’s stock, valued at approximately $687,000.

A number of other institutional investors also recently made changes to their positions in HRMY. BlackRock Inc. acquired a new position in shares of Harmony Biosciences in the 2nd quarter valued at approximately $258,583,000. SG Americas Securities LLC grew its position 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 worth $56,529,000 after buying an additional 1,056,507 shares in the last quarter. Armistice Capital LLC bought a new stake in shares of Harmony Biosciences in the fourth quarter worth $18,710,000. AQR Capital Management LLC increased its stake in shares of Harmony Biosciences by 128.9% in the fourth quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock worth $30,456,000 after buying an additional 458,321 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Harmony Biosciences by 42.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock valued at $35,701,000 after acquiring an additional 388,472 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Stock Performance

HRMY stock opened at $39.93 on Thursday. 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 firm has a market cap of $2.33 billion, a P/E ratio of 12.96, a P/E/G ratio of 0.36 and a beta of 0.96. Harmony Biosciences Holdings, Inc. has a 12-month low of $25.52 and a 12-month high of $40.87. The stock’s 50 day simple moving average is $36.19 and its 200 day simple moving average is $32.71.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The firm had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The firm’s revenue was up 30.3% on a year-over-year basis. As a group, equities research analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on HRMY shares. Truist Financial increased their price objective 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. HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a research report on Thursday, July 16th. Needham & Company LLC upped their target price on shares of Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $39.00 price target on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Harmony Biosciences currently has an average rating of “Hold” and an average price target of $45.50.

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.