Man Group plc Takes $5.19 Million Position in Harmony Biosciences Holdings, Inc. $HRMY

Man Group plc purchased a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 2nd quarter, HoldingsChannel reports. The fund purchased 142,443 shares of the company’s stock, valued at approximately $5,186,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in HRMY. EverSource Wealth Advisors LLC grew its position in Harmony Biosciences by 589.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after buying an additional 643 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Harmony Biosciences by 286.7% in the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after acquiring an additional 602 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of Harmony Biosciences during the 4th quarter valued at about $30,000. National Bank of Canada FI purchased a new position in shares of Harmony Biosciences during the third quarter worth about $40,000. Finally, Clearstead Advisors LLC grew its holdings in shares of 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 purchasing an additional 699 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Truist Financial raised their target price 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. Zacks Research cut shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Oppenheimer reissued an “outperform” rating and issued a $70.00 price target on shares of Harmony Biosciences in a report on Tuesday, August 4th. Mizuho raised their price objective on shares of Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Wall Street Zen raised shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $47.11.

Harmony Biosciences Price Performance

Shares of Harmony Biosciences stock opened at $39.21 on Monday. 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 capitalization of $2.28 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 0.36 and a beta of 0.96. The business’s 50-day moving average price is $36.88 and its 200-day moving average price is $32.79. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.52 and a 12 month high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. The company had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.Harmony Biosciences’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period last year, the firm posted $0.92 EPS. Sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.77 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.