Wellington Management Group LLP Acquires Shares of 16,310 Harmony Biosciences Holdings, Inc. $HRMY

Wellington Management Group LLP acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,310 shares of the company’s stock, valued at approximately $594,000.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in shares of Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after acquiring an additional 643 shares during the period. Leonteq Securities AG purchased a new position in Harmony Biosciences during the fourth quarter worth approximately $30,000. Allworth Financial LP grew its holdings in Harmony Biosciences by 286.7% in the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after purchasing an additional 602 shares during the period. Clearstead Advisors LLC increased its position in shares of Harmony Biosciences by 145.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after buying an additional 699 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Harmony Biosciences during the 4th quarter valued at approximately $47,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Stock Up 1.0%

NASDAQ HRMY opened at $41.52 on Friday. The business has a fifty day moving average price of $38.12 and a 200 day moving average price of $33.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. The company has a market cap of $2.42 billion, a P/E ratio of 13.48, a P/E/G ratio of 0.38 and a beta of 0.93. Harmony Biosciences Holdings, Inc. has a one year low of $25.52 and a one year high of $43.49.

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

Insider Buying and Selling at Harmony Biosciences

In other news, insider Kumar Budur sold 28,454 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $42.96, for a total value of $1,222,383.84. Following the transaction, the insider directly owned 13,115 shares of the company’s stock, valued at approximately $563,420.40. This trade represents a 68.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

HRMY has been the subject of several recent analyst reports. Zacks Research lowered shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Harmony Biosciences in a report on Tuesday, August 4th. UBS Group reiterated a “neutral” rating and issued a $37.00 target price on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $39.00 price target on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Finally, Needham & Company LLC raised their price target 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. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $47.11.

Harmony Biosciences Profile

Harmony Biosciences Holdings, Inc is a commercial-stage pharmaceutical company focused on developing and commercializing therapies for patients with rare neurological disorders. The company was founded in 2017 and is headquartered in Plymouth Meeting, Pennsylvania, with an emphasis on conditions that are often underserved by traditional pharmaceutical research.

Harmony’s principal product is WAKIX (pitolisant), a first-in-class histamine H3 receptor antagonist/inverse agonist approved by the U.S.