New Vernon Capital Holdings II LLC Increases Holdings in Harmony Biosciences Holdings, Inc. $HRMY

New Vernon Capital Holdings II LLC grew its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 3,219.0% during the first quarter, HoldingsChannel reports. The firm owned 488,424 shares of the company’s stock after buying an additional 473,708 shares during the period. New Vernon Capital Holdings II LLC’s holdings in Harmony Biosciences were worth $16,211,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. LSV Asset Management raised its holdings in shares of Harmony Biosciences by 25.0% during the 1st quarter. LSV Asset Management now owns 1,194,961 shares of the company’s stock valued at $39,661,000 after buying an additional 238,744 shares during the period. Allianz Asset Management GmbH grew its position in Harmony Biosciences by 1,709.0% in the first quarter. Allianz Asset Management GmbH now owns 220,704 shares of the company’s stock valued at $7,325,000 after acquiring an additional 208,504 shares in the last quarter. American Century Companies Inc. grew its position in Harmony Biosciences by 16.9% in the first quarter. American Century Companies Inc. now owns 1,288,787 shares of the company’s stock valued at $42,775,000 after acquiring an additional 186,183 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Harmony Biosciences by 92.7% during the fourth quarter. Two Sigma Investments LP now owns 275,594 shares of the company’s stock valued at $9,483,000 after purchasing an additional 132,595 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Harmony Biosciences by 35.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 480,605 shares of the company’s stock worth $16,538,000 after purchasing an additional 124,656 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Ratings Changes

HRMY has been the subject of a number of recent analyst reports. Cantor Fitzgerald raised shares of Harmony Biosciences to a “strong-buy” rating in a report on Tuesday, May 13th. The Goldman Sachs Group assumed coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They issued a “neutral” rating and a $33.00 price objective for the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $55.00 target price (up from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th. Mizuho boosted their price target on Harmony Biosciences from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Finally, Oppenheimer assumed coverage on Harmony Biosciences in a report on Monday, June 2nd. They issued an “outperform” rating and a $61.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Harmony Biosciences currently has a consensus rating of “Buy” and a consensus target price of $51.00.

Harmony Biosciences Stock Down 3.3%

NASDAQ:HRMY opened at $36.30 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.80 and a current ratio of 3.84. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 0.44 and a beta of 0.84. Harmony Biosciences Holdings, Inc. has a one year low of $26.47 and a one year high of $41.61. The stock has a 50-day simple moving average of $35.39 and a 200 day simple moving average of $33.62.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). The firm had revenue of $200.49 million during the quarter, compared to the consensus estimate of $204.37 million. Harmony Biosciences had a net margin of 23.44% and a return on equity of 26.34%. Harmony Biosciences’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. Sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

About Harmony Biosciences

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.