Harmony Biosciences Holdings, Inc. $HRMY Position Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 750.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,219 shares of the company’s stock after purchasing an additional 155,494 shares during the period. Allspring Global Investments Holdings LLC owned about 0.30% of Harmony Biosciences worth $4,927,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HRMY. SG Americas Securities LLC increased its position in Harmony Biosciences by 109.9% during the first quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after buying an additional 1,056,507 shares during the last quarter. Armistice Capital LLC acquired a new position in Harmony Biosciences during the fourth quarter valued at approximately $18,710,000. AQR Capital Management LLC raised its position in shares of Harmony Biosciences by 128.9% in the fourth quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock valued at $30,456,000 after purchasing an additional 458,321 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Harmony Biosciences by 42.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock worth $35,701,000 after buying an additional 388,472 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of Harmony Biosciences by 213.3% in the third quarter. UBS Group AG now owns 503,081 shares of the company’s stock worth $13,865,000 after buying an additional 342,505 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Trading Down 1.3%

HRMY opened at $35.32 on Friday. The stock has a market capitalization of $2.04 billion, a P/E ratio of 14.24, a P/E/G ratio of 0.33 and a beta of 0.94. The company has a current ratio of 3.58, a quick ratio of 3.56 and a debt-to-equity ratio of 0.15. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.52 and a 12 month high of $40.87. The firm’s fifty day simple moving average is $33.95 and its 200 day simple moving average is $32.63.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). The firm had revenue of $215.39 million during the quarter, compared to the consensus estimate of $220.84 million. Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. As a group, research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on HRMY shares. Truist Financial boosted their target price on shares of Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft raised their target price on Harmony Biosciences from $30.00 to $36.00 and gave the company a “hold” rating in a report on Tuesday, June 30th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a research report on Thursday, July 16th. Weiss Ratings upgraded Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Finally, Zacks Research upgraded shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

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.