Virtus Investment Advisers LLC Boosts Stock Holdings in Harmony Biosciences Holdings, Inc. $HRMY

Virtus Investment Advisers LLC lifted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 18.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,333 shares of the company’s stock after purchasing an additional 2,065 shares during the period. Virtus Investment Advisers LLC’s holdings in Harmony Biosciences were worth $421,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of HRMY. Brooklyn Investment Group grew its position in shares of Harmony Biosciences by 1,031.9% during the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock worth $35,000 after buying an additional 970 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Harmony Biosciences by 4,185.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock valued at $37,000 after purchasing an additional 1,130 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Harmony Biosciences during the 1st quarter worth $57,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Harmony Biosciences by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock worth $70,000 after purchasing an additional 299 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in Harmony Biosciences by 12.0% in the second quarter. Ameritas Investment Partners Inc. now owns 4,466 shares of the company’s stock valued at $141,000 after buying an additional 479 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Shares of HRMY opened at $35.26 on Friday. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $40.93. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 0.46 and a beta of 0.85. The firm has a 50-day simple moving average of $29.97 and a 200-day simple moving average of $33.01. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.72 and a current ratio of 3.75.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.05). Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%.The firm had revenue of $239.46 million for the quarter, compared to analysts’ expectations of $222.68 million. On average, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

HRMY has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $62.00 price target on shares of Harmony Biosciences in a report on Monday, November 24th. UBS Group decreased their target price on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Wall Street Zen lowered shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.75.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.