OMERS ADMINISTRATION Corp Purchases New Position in Harmony Biosciences Holdings, Inc. $HRMY

OMERS ADMINISTRATION Corp purchased a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 35,090 shares of the company’s stock, valued at approximately $1,278,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in HRMY. EverSource Wealth Advisors LLC increased its holdings in shares of Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after purchasing an additional 643 shares in the last quarter. Allworth Financial LP boosted its holdings in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after buying an additional 602 shares in the last quarter. Leonteq Securities AG purchased a new stake in Harmony Biosciences during the fourth quarter worth $30,000. National Bank of Canada FI acquired a new stake in Harmony Biosciences during the third quarter valued at $40,000. Finally, Clearstead Advisors LLC grew its position in Harmony Biosciences by 145.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after buying an additional 699 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group reiterated a “neutral” rating and issued a $37.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Oppenheimer restated an “outperform” rating and issued a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, August 4th. Weiss Ratings upgraded Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Mizuho raised their price objective on Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, Needham & Company LLC upped their target price on Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $47.11.

Harmony Biosciences Price Performance

Shares of Harmony Biosciences stock opened at $39.66 on Thursday. The business has a 50 day simple moving average of $36.63 and a two-hundred day simple moving average of $32.76. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.52 and a 12 month high of $40.87. The stock has a market capitalization of $2.31 billion, a P/E ratio of 12.88, a PEG ratio of 0.36 and a beta of 0.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.48 and a quick ratio of 3.45.

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