Harmony Biosciences Holdings, Inc. $HRMY Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC increased its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 59.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,589 shares of the company’s stock after acquiring an additional 21,919 shares during the period. Hsbc Holdings PLC’s holdings in Harmony Biosciences were worth $2,193,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HRMY. Dimensional Fund Advisors LP lifted its position in Harmony Biosciences by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,830,726 shares of the company’s stock worth $68,507,000 after purchasing an additional 139,145 shares during the period. State Street Corp lifted its holdings in shares of Harmony Biosciences by 0.5% in the fourth quarter. State Street Corp now owns 1,661,850 shares of the company’s stock valued at $62,186,000 after buying an additional 8,246 shares during the period. LSV Asset Management boosted its stake in Harmony Biosciences by 3.9% during the fourth quarter. LSV Asset Management now owns 1,657,093 shares of the company’s stock valued at $62,008,000 after buying an additional 62,200 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Harmony Biosciences by 15.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,491,605 shares of the company’s stock valued at $55,816,000 after buying an additional 196,224 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Harmony Biosciences by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 1,270,586 shares of the company’s stock worth $47,551,000 after acquiring an additional 12,323 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

HRMY has been the subject of a number of research analyst reports. Truist Financial upped their price target on shares of Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a report on Friday, May 8th. HC Wainwright reissued a “buy” rating on shares of Harmony Biosciences in a research note on Wednesday, June 24th. Zacks Research upgraded shares of Harmony Biosciences from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Weiss Ratings raised Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Harmony Biosciences from $30.00 to $36.00 and gave the company a “hold” rating in a research report on Tuesday, June 30th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Harmony Biosciences currently has a consensus rating of “Hold” and an average target price of $42.50.

Harmony Biosciences Trading Down 3.6%

Shares of HRMY traded down $1.37 during midday trading on Friday, hitting $36.84. The stock had a trading volume of 668,823 shares, compared to its average volume of 720,483. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $40.87. The business has a 50-day simple moving average of $33.19 and a two-hundred day simple moving average of $32.84. The company has a current ratio of 3.58, a quick ratio of 3.56 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.13 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 0.35 and a beta of 0.94.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data 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 analyst estimates of $220.84 million. Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 EPS. As a group, equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.26 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.