venBio Partners LLC Acquires New Stake in Harmony Biosciences Holdings, Inc. $HRMY

venBio Partners LLC acquired a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 472,194 shares of the company’s stock, valued at approximately $17,192,584. Harmony Biosciences comprises approximately 0.0% of venBio Partners LLC’s portfolio, making the stock its 6th largest holding. venBio Partners LLC owned 0.81% of Harmony Biosciences as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of HRMY. Nebula Research & Development LLC lifted its position in shares of Harmony Biosciences by 2.0% in the 2nd quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock worth $550,000 after acquiring an additional 348 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Harmony Biosciences by 2.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company’s stock worth $717,000 after purchasing an additional 532 shares during the period. Allworth Financial LP raised its position in shares of Harmony Biosciences by 286.7% during the 4th 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. PNC Financial Services Group Inc. grew its stake in Harmony Biosciences by 30.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the company’s stock worth $100,000 after purchasing an additional 619 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Harmony Biosciences by 589.9% in 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 during the period. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Down 1.7%

HRMY traded down $0.66 during midday trading on Friday, hitting $39.21. 590,204 shares of the company’s stock traded hands, compared to its average volume of 838,349. The stock’s fifty day simple moving average is $36.76 and its 200-day simple moving average is $32.78. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.48 and a quick ratio of 3.45. The company has a market cap of $2.28 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 0.37 and a beta of 0.96. Harmony Biosciences Holdings, Inc. has a one year low of $25.52 and a one year high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results 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 business had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. During the same period last year, the firm earned $0.92 earnings per share. Harmony Biosciences’s revenue for the quarter was up 30.3% compared to the same quarter last year. As a group, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Needham & Company LLC increased their target price on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Zacks Research cut Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. UBS Group reissued a “neutral” rating and issued a $37.00 price objective on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Finally, Truist Financial boosted their target price on Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.11.

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.