LSV Asset Management Increases Stake in Harmony Biosciences Holdings, Inc. $HRMY

LSV Asset Management increased its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 7.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,594,893 shares of the company’s stock after purchasing an additional 106,391 shares during the period. LSV Asset Management owned 2.77% of Harmony Biosciences worth $43,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust lifted its stake in shares of Harmony Biosciences by 4,185.2% during the second quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock worth $37,000 after buying an additional 1,130 shares during the period. Tower Research Capital LLC TRC lifted its position in Harmony Biosciences by 338.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,511 shares of the company’s stock worth $111,000 after acquiring an additional 2,711 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Harmony Biosciences during the 2nd quarter worth about $120,000. Ameritas Investment Partners Inc. grew its stake in Harmony Biosciences by 12.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,466 shares of the company’s stock valued at $141,000 after purchasing an additional 479 shares during the last quarter. Finally, EMC Capital Management acquired a new position in shares of Harmony Biosciences in the second quarter valued at about $195,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HRMY. Wall Street Zen upgraded Harmony Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Needham & Company LLC restated a “buy” rating and set a $42.00 price objective on shares of Harmony Biosciences in a research note on Monday, November 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Harmony Biosciences in a research note on Monday, December 29th. Oppenheimer restated an “outperform” rating and set a $62.00 target price on shares of Harmony Biosciences in a research report on Monday, November 24th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Harmony Biosciences in a research report on Wednesday, December 3rd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.63.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY opened at $36.01 on Friday. The company has a market capitalization of $2.07 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 0.33 and a beta of 0.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.72 and a current ratio of 3.75. The company’s fifty day moving average price is $37.53 and its 200 day moving average price is $34.33. Harmony Biosciences Holdings, Inc. has a 1 year low of $25.52 and a 1 year high of $40.87.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 25,933 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $40.11, for a total value of $1,040,172.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sandip Kapadia sold 3,746 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $37.15, for a total value of $139,163.90. Following the completion of the sale, the chief financial officer owned 24,521 shares of the company’s stock, valued at $910,955.15. This trade represents a 13.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 50,640 shares of company stock worth $1,932,256 over the last 90 days. Insiders own 23.60% of the company’s stock.

About Harmony Biosciences

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.