LSV Asset Management Purchases 62,200 Shares of Harmony Biosciences Holdings, Inc. $HRMY

LSV Asset Management raised its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,657,093 shares of the company’s stock after acquiring an additional 62,200 shares during the period. LSV Asset Management owned approximately 2.88% of Harmony Biosciences worth $62,008,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HRMY. Allworth Financial LP boosted its holdings in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after acquiring an additional 602 shares during the period. Leonteq Securities AG bought a new stake in Harmony Biosciences during the fourth quarter valued at about $30,000. National Bank of Canada FI bought a new stake in Harmony Biosciences during the third quarter valued at about $40,000. PNC Financial Services Group Inc. boosted its holdings in Harmony Biosciences by 30.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the company’s stock valued at $100,000 after acquiring an additional 619 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Harmony Biosciences by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,799 shares of the company’s stock valued at $105,000 after acquiring an additional 575 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on HRMY. UBS Group decreased their price target on shares of Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Wall Street Zen cut shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Needham & Company LLC decreased their price target on shares of Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Bank of America reduced their target price on shares of Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating for the company in a research note on Wednesday, February 25th. Finally, HC Wainwright reiterated a “buy” rating on shares of Harmony Biosciences in a research note on Friday. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $40.89.

Harmony Biosciences Stock Down 1.1%

NASDAQ HRMY opened at $30.15 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58. The firm has a 50-day simple moving average of $29.43 and a 200 day simple moving average of $33.16. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $40.87. The stock has a market cap of $1.75 billion, a PE ratio of 12.16, a PEG ratio of 0.20 and a beta of 0.97.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.21). The company 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 firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. On average, research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.2 EPS for the current year.

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.