Foster & Motley Inc. Invests $687,000 in Harmony Biosciences Holdings, Inc. $HRMY

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

Several other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after purchasing an additional 643 shares in the last quarter. Allworth Financial LP lifted its position in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after buying an additional 602 shares in the last quarter. Leonteq Securities AG acquired a new position in Harmony Biosciences during the fourth quarter valued at approximately $30,000. National Bank of Canada FI purchased a new stake in Harmony Biosciences during the third quarter worth approximately $40,000. Finally, Clearstead Advisors LLC grew its stake in Harmony Biosciences by 145.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after buying an additional 699 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Trading Up 2.8%

HRMY opened at $39.93 on Thursday. The firm’s 50 day moving average is $36.19 and its 200-day moving average is $32.71. 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 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. The firm has a market capitalization 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 (NASDAQ:HRMY) last announced its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.32. The business had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. Analysts expect that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Zacks Research lowered shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. UBS Group reiterated a “neutral” rating and issued a $37.00 price target on shares of Harmony Biosciences in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $39.00 price target on shares of Harmony Biosciences in a report on Wednesday, August 5th. Needham & Company LLC boosted their price objective on Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Truist Financial boosted their price objective on Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Harmony Biosciences has an average rating of “Hold” and a consensus price target of $45.50.

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.