27,049 Shares in Harmony Biosciences Holdings, Inc. $HRMY Bought by Nan Fung Group Holdings Ltd

Nan Fung Group Holdings Ltd acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 27,049 shares of the company’s stock, valued at approximately $984,854. Harmony Biosciences accounts for about 0.0% of Nan Fung Group Holdings Ltd’s portfolio, making the stock its 18th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Harmony Biosciences in the second quarter valued at $258,583,000. Dimensional Fund Advisors LP raised its position in shares of Harmony Biosciences by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company’s stock worth $58,157,000 after buying an additional 245,784 shares in the last quarter. SG Americas Securities LLC lifted its stake in Harmony Biosciences by 109.9% in the 1st quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after acquiring an additional 1,056,507 shares in the last quarter. State Street Corp raised its position in shares of Harmony Biosciences by 0.5% during 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 last quarter. Finally, LSV Asset Management raised its position in Harmony Biosciences by 3.9% in the 4th quarter. LSV Asset Management now owns 1,657,093 shares of the company’s stock valued at $62,008,000 after purchasing an additional 62,200 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wolfe Research began coverage on shares of Harmony Biosciences in a research report on Wednesday. They issued an “outperform” rating and a $60.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 target price on shares of Harmony Biosciences in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $39.00 price target on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Wall Street Zen upgraded Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Finally, Needham & Company LLC raised their price objective on shares of Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $47.11.

Harmony Biosciences Trading Down 1.6%

Shares of NASDAQ:HRMY traded down $0.65 during mid-day trading on Friday, reaching $39.22. The stock had a trading volume of 242,999 shares, compared to its average volume of 836,187. The firm has a 50 day simple moving average of $36.76 and a two-hundred day simple moving average of $32.78. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $40.87. The firm has a market cap of $2.28 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 0.37 and a beta of 0.96.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The company had revenue of $261.28 million for the quarter, compared to the consensus estimate of $250.77 million. During the same period last year, the company posted $0.92 EPS. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. On average, research analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.

Harmony Biosciences 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.