Jupiter Topco LLC Purchases Shares of 102,747 Harmony Biosciences Holdings, Inc. $HRMY

Jupiter Topco LLC acquired a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 102,747 shares of the company’s stock, valued at approximately $3,741,000.

A number of other hedge funds have also recently made changes to their positions in HRMY. Nebula Research & Development LLC increased its position in shares of Harmony Biosciences by 2.0% during the second quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock worth $550,000 after acquiring an additional 348 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Harmony Biosciences by 2.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company’s stock valued at $717,000 after acquiring an additional 532 shares in the last quarter. Allworth Financial LP boosted its stake in Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after purchasing an additional 602 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Harmony Biosciences by 30.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the company’s stock worth $100,000 after purchasing an additional 619 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after purchasing an additional 643 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HRMY. Needham & Company LLC raised their target price on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Wolfe Research started coverage on Harmony Biosciences in a research report on Wednesday, August 26th. They issued an “outperform” rating and a $60.00 price target for the company. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Harmony Biosciences in a research note on Thursday, July 16th. Wall Street Zen raised shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Finally, Weiss Ratings upgraded shares of Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Harmony Biosciences presently has a consensus rating of “Hold” and a consensus target price of $47.11.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $41.25 on Wednesday. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $41.49. The stock’s 50 day moving average price is $37.14 and its 200-day moving average price is $32.84. The company has a market capitalization of $2.40 billion, a PE ratio of 13.39, a PEG ratio of 0.36 and a beta of 0.93. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13.

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