Convergence Investment Partners LLC Takes $961,000 Position in Harmony Biosciences Holdings, Inc. $HRMY

Convergence Investment Partners LLC acquired a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 4th quarter, Holdings Channel.com reports. The fund acquired 25,682 shares of the company’s stock, valued at approximately $961,000.

Several other hedge funds have also bought and sold shares of HRMY. SG Americas Securities LLC boosted its stake in Harmony Biosciences by 4,102.4% during the fourth quarter. SG Americas Securities LLC now owns 961,667 shares of the company’s stock worth $35,986,000 after acquiring an additional 938,783 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Harmony Biosciences by 42.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock worth $35,701,000 after acquiring an additional 388,472 shares in the last quarter. UBS Group AG boosted its stake in Harmony Biosciences by 213.3% during the third quarter. UBS Group AG now owns 503,081 shares of the company’s stock worth $13,865,000 after acquiring an additional 342,505 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Harmony Biosciences by 677.5% during the second quarter. BNP Paribas Financial Markets now owns 307,165 shares of the company’s stock worth $9,706,000 after acquiring an additional 267,658 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Harmony Biosciences by 598.2% during the third quarter. Millennium Management LLC now owns 204,510 shares of the company’s stock worth $5,636,000 after acquiring an additional 175,221 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

HRMY has been the topic of several research reports. Wall Street Zen lowered shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Deutsche Bank Aktiengesellschaft lowered shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research note on Monday, February 23rd. Mizuho set a $50.00 price objective on shares of Harmony Biosciences in a research note on Thursday, February 19th. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of Harmony Biosciences in a research note on Wednesday, February 25th. Finally, Needham & Company LLC dropped their price objective on shares of Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.89.

Harmony Biosciences Trading Down 2.2%

Shares of NASDAQ HRMY opened at $30.09 on Friday. The firm’s 50 day moving average price is $29.24 and its 200-day moving average price is $33.12. The company has a market cap of $1.74 billion, a PE ratio of 12.13, a P/E/G ratio of 0.20 and a beta of 0.97. 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.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 17.19% and a net margin of 16.20%.The company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 EPS. On average, equities research analysts expect that Harmony Biosciences Holdings, Inc. will post 3.34 EPS for the current fiscal 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.