Royce & Associates LP Grows Stock Position in Harmony Biosciences Holdings, Inc. $HRMY

Royce & Associates LP increased its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 240.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,188 shares of the company’s stock after purchasing an additional 196,430 shares during the quarter. Royce & Associates LP owned approximately 0.48% of Harmony Biosciences worth $10,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of HRMY. EverSource Wealth Advisors LLC grew its stake in shares of Harmony Biosciences by 589.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after purchasing an additional 643 shares during the last quarter. Allworth Financial LP grew its stake in shares of Harmony Biosciences by 286.7% in the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after purchasing an additional 602 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of Harmony Biosciences in the fourth quarter worth about $30,000. National Bank of Canada FI bought a new stake in shares of Harmony Biosciences in the third quarter worth about $40,000. Finally, Clearstead Advisors LLC grew its stake 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 worth $44,000 after purchasing an additional 699 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bank of America cut their target price on Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 25th. Mizuho set a $50.00 target price on Harmony Biosciences in a research note on Thursday, February 19th. UBS Group cut their target price on Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. HC Wainwright reissued a “buy” rating on shares of Harmony Biosciences in a research note on Friday, May 22nd. Finally, Needham & Company LLC cut their target price on Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.89.

Harmony Biosciences Price Performance

HRMY stock opened at $30.76 on Thursday. The firm has a 50 day moving average price of $29.58 and a 200-day moving average price of $33.18. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $40.87. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.21 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58.

Harmony Biosciences (NASDAQ:HRMY) last released 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). 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 quarter in the previous year, the business posted $0.78 earnings per share. Harmony Biosciences’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.2 EPS for the current fiscal year.

Harmony Biosciences Company 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.