Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 2.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 213,416 shares of the company’s stock after acquiring an additional 4,753 shares during the quarter. Principal Financial Group Inc. owned approximately 0.37% of Harmony Biosciences worth $7,083,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Hillsdale Investment Management Inc. grew its stake in shares of Harmony Biosciences by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 68,000 shares of the company’s stock valued at $2,340,000 after purchasing an additional 300 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Harmony Biosciences by 2.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company’s stock valued at $704,000 after purchasing an additional 420 shares during the period. Rhumbline Advisers grew its stake in shares of Harmony Biosciences by 0.4% in the 1st quarter. Rhumbline Advisers now owns 109,073 shares of the company’s stock valued at $3,620,000 after purchasing an additional 485 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Harmony Biosciences by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock valued at $80,000 after purchasing an additional 519 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Harmony Biosciences by 1.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,331 shares of the company’s stock valued at $2,145,000 after purchasing an additional 678 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HRMY has been the topic of several research reports. Cantor Fitzgerald raised Harmony Biosciences to a “strong-buy” rating in a report on Tuesday, May 13th. HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Oppenheimer started coverage on Harmony Biosciences in a research note on Monday, June 2nd. They issued an “outperform” rating and a $61.00 price target on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $55.00 price objective (up previously from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th. Finally, Mizuho raised their price objective on Harmony Biosciences from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $51.33.

Harmony Biosciences Stock Performance

Shares of HRMY opened at $34.84 on Wednesday. The company has a market cap of $2.00 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 0.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.67 and a quick ratio of 3.63. The firm has a 50-day moving average of $33.74 and a 200-day moving average of $33.88. Harmony Biosciences Holdings, Inc. has a one year low of $26.47 and a one year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.19. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. The business had revenue of $184.73 million during the quarter, compared to analysts’ expectations of $184.26 million. During the same quarter in the previous year, the company earned $0.67 EPS. The business’s revenue was up 19.5% on a year-over-year basis. As a group, equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.