Hsbc Holdings PLC Purchases New Position in Harmony Biosciences Holdings, Inc. $HRMY

Hsbc Holdings PLC purchased a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,627 shares of the company’s stock, valued at approximately $963,000.

Several other institutional investors and hedge funds have also bought and sold shares of HRMY. Chase Investment Counsel Corp bought a new position in shares of Harmony Biosciences in the 2nd quarter worth approximately $1,820,000. Aurora Investment Counsel bought a new stake in shares of Harmony Biosciences during the second quarter valued at approximately $2,372,000. Virtus Advisers LLC bought a new stake in shares of Harmony Biosciences during the second quarter valued at approximately $1,065,000. Sanctuary Advisors LLC purchased a new stake in Harmony Biosciences in the first quarter worth $1,030,000. Finally, Convergence Investment Partners LLC purchased a new stake in Harmony Biosciences in the fourth quarter worth $961,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on HRMY shares. Needham & Company LLC raised their price objective 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 downgraded shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $39.00 price target on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Wolfe Research began coverage on shares of Harmony Biosciences in a research report on Wednesday, August 26th. They set an “outperform” rating and a $60.00 price target for the company. Finally, Mizuho boosted their price objective on shares of Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $47.11.

Harmony Biosciences Stock Up 4.7%

HRMY stock opened at $41.25 on Wednesday. The business has a 50 day moving average of $37.14 and a 200 day moving average of $32.84. The firm has a market cap of $2.40 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 0.36 and a beta of 0.93. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $41.49. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13.

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

Harmony Biosciences 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.