Wealth Enhancement Advisory Services LLC Makes New $655,000 Investment in Harmony Biosciences Holdings, Inc. $HRMY

Wealth Enhancement Advisory Services LLC bought a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 17,820 shares of the company’s stock, valued at approximately $655,000.

Several other hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in shares of Harmony Biosciences by 6.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,691,581 shares of the company’s stock valued at $46,620,000 after acquiring an additional 109,405 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Harmony Biosciences by 11.2% during the third quarter. American Century Companies Inc. now owns 1,669,565 shares of the company’s stock valued at $46,013,000 after acquiring an additional 168,145 shares in the last quarter. LSV Asset Management increased its holdings in shares of Harmony Biosciences by 7.1% during the third quarter. LSV Asset Management now owns 1,594,893 shares of the company’s stock valued at $43,955,000 after acquiring an additional 106,391 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Harmony Biosciences by 42.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock valued at $35,701,000 after acquiring an additional 388,472 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of Harmony Biosciences by 24.5% during the third quarter. Boston Partners now owns 753,952 shares of the company’s stock valued at $20,697,000 after acquiring an additional 148,457 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Insider Buying and Selling

In other Harmony Biosciences news, CFO Sandip Kapadia sold 3,746 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $37.15, for a total value of $139,163.90. Following the sale, the chief financial officer owned 24,521 shares in the company, valued at approximately $910,955.15. This represents a 13.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 23.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Harmony Biosciences in a report on Monday, December 29th. Needham & Company LLC cut their price target on shares of Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Wall Street Zen downgraded shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Zacks Research downgraded shares of Harmony Biosciences from a “hold” rating to a “strong sell” rating in a report on Thursday, March 26th. Finally, Mizuho set a $50.00 price target on shares of Harmony Biosciences in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Harmony Biosciences has a consensus rating of “Hold” and an average price target of $42.67.

Harmony Biosciences Trading Up 3.1%

Harmony Biosciences stock opened at $28.47 on Thursday. The company has a current ratio of 3.60, a quick ratio of 3.58 and a debt-to-equity ratio of 0.17. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.52 and a 12 month high of $40.87. The stock’s 50 day simple moving average is $30.76 and its two-hundred day simple moving average is $32.56. The firm has a market cap of $1.65 billion, a PE ratio of 10.51, a P/E/G ratio of 0.38 and a beta of 0.89.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.46). Harmony Biosciences had a return on equity of 19.86% and a net margin of 18.29%.The company had revenue of $243.78 million during the quarter, compared to analysts’ expectations of $240.04 million. During the same quarter in the prior year, the company posted $0.85 EPS. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 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.