Empowered Funds LLC Acquires Shares of 114,538 Harmony Biosciences Holdings, Inc. $HRMY

Empowered Funds LLC acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the second quarter, HoldingsChannel reports. The fund acquired 114,538 shares of the company’s stock, valued at approximately $4,170,000.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Harmony Biosciences by 589.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after buying an additional 643 shares during the last quarter. Leonteq Securities AG bought a new stake in Harmony Biosciences during the 4th quarter worth about $30,000. Allworth Financial LP grew its holdings in Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after acquiring an additional 602 shares during the last quarter. Clearstead Advisors LLC increased its position in Harmony Biosciences by 145.9% in the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after acquiring an additional 699 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in Harmony Biosciences in the 4th quarter valued at about $47,000. Institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Mizuho upped their target price on shares of Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Wolfe Research initiated coverage on shares of Harmony Biosciences in a report on Wednesday, August 26th. They issued an “outperform” rating and a $60.00 price target for the company. Needham & Company LLC boosted their price objective on shares of Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. UBS Group reaffirmed a “neutral” rating and set a $37.00 price objective on shares of Harmony Biosciences in a report on Wednesday, August 5th. Finally, HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a research note on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $47.11.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY opened at $39.38 on Tuesday. 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 1-year low of $25.52 and a 1-year high of $40.87. The stock has a market capitalization of $2.29 billion, a P/E ratio of 12.79, a P/E/G ratio of 0.36 and a beta of 0.96. The business has a 50-day moving average price of $37.00 and a two-hundred day moving average price of $32.80.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $250.77 million. During the same quarter last year, the firm earned $0.92 EPS. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. Equities analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share 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.