Harmony Biosciences Holdings, Inc. $HRMY Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp boosted its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 144.2% during the 1st quarter, Holdings Channel reports. The firm owned 30,990 shares of the company’s stock after acquiring an additional 18,300 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Harmony Biosciences were worth $868,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of HRMY. Ruffer LLP purchased a new position in Harmony Biosciences in the fourth quarter worth about $1,536,000. CX Institutional raised its position in Harmony Biosciences by 19.7% during the fourth quarter. CX Institutional now owns 275,809 shares of the company’s stock valued at $10,321,000 after purchasing an additional 45,376 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Harmony Biosciences in the 4th quarter valued at approximately $655,000. Convergence Investment Partners LLC bought a new stake in shares of Harmony Biosciences in the 4th quarter valued at approximately $961,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Harmony Biosciences by 32.9% in the 4th quarter. BNP Paribas Financial Markets now owns 525,145 shares of the company’s stock worth $19,651,000 after purchasing an additional 130,001 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analysts Set New Price Targets

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

Harmony Biosciences Price Performance

Shares of HRMY stock opened at $35.86 on Friday. The stock has a 50 day moving average price of $34.38 and a 200 day moving average price of $32.54. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $40.87. 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 market capitalization of $2.08 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.33 and a beta of 0.94.

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