Y Intercept Hong Kong Ltd Increases Holdings in Harmony Biosciences Holdings, Inc. $HRMY

Y Intercept Hong Kong Ltd raised its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 271.4% in the 1st quarter, HoldingsChannel reports. The fund owned 147,044 shares of the company’s stock after buying an additional 107,449 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Harmony Biosciences were worth $4,119,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC raised its position in shares of Harmony Biosciences by 109.9% during 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. Armistice Capital LLC purchased a new stake in Harmony Biosciences during the fourth quarter worth approximately $18,710,000. AQR Capital Management LLC boosted its holdings in Harmony Biosciences by 128.9% in the fourth quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock valued at $30,456,000 after purchasing an additional 458,321 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Harmony Biosciences by 42.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock valued at $35,701,000 after purchasing an additional 388,472 shares in the last quarter. Finally, UBS Group AG increased its stake in Harmony Biosciences by 213.3% in the third quarter. UBS Group AG now owns 503,081 shares of the company’s stock valued at $13,865,000 after purchasing an additional 342,505 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

NASDAQ:HRMY opened at $37.26 on Monday. The company has a market capitalization of $2.16 billion, a PE ratio of 15.02, a P/E/G ratio of 0.35 and a beta of 0.94. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $40.87. The stock’s 50 day moving average price is $32.54 and its 200 day moving average price is $32.83. The company has a quick ratio of 3.56, a current ratio of 3.58 and a debt-to-equity ratio of 0.15.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). The firm had revenue of $215.39 million during the quarter, compared to analysts’ expectations of $220.84 million. Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. Harmony Biosciences’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. On average, research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HRMY. HC Wainwright reissued a “buy” rating on shares of Harmony Biosciences in a report on Wednesday, June 24th. Zacks Research upgraded shares of Harmony Biosciences from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Tuesday, June 30th. Finally, Truist Financial boosted their price target on shares of Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Harmony Biosciences has an average rating of “Hold” and an average price target of $41.44.

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.