BNP Paribas Financial Markets Acquires 130,001 Shares of Harmony Biosciences Holdings, Inc. $HRMY

BNP Paribas Financial Markets raised its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 32.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 525,145 shares of the company’s stock after purchasing an additional 130,001 shares during the quarter. BNP Paribas Financial Markets’ holdings in Harmony Biosciences were worth $19,651,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. AdvisorShares Investments LLC acquired a new stake in Harmony Biosciences in the 4th quarter valued at $498,000. Norges Bank bought a new stake in shares of Harmony Biosciences during the 4th quarter worth $992,000. Geode Capital Management LLC increased its holdings in Harmony Biosciences by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,270,586 shares of the company’s stock worth $47,551,000 after acquiring an additional 12,323 shares during the last quarter. Royce & Associates LP increased its holdings in Harmony Biosciences by 240.3% in the 4th quarter. Royce & Associates LP now owns 278,188 shares of the company’s stock worth $10,410,000 after acquiring an additional 196,430 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its position in shares of Harmony Biosciences by 145.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after acquiring an additional 699 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $32.20 on Friday. The stock has a market capitalization of $1.86 billion, a PE ratio of 12.98, a P/E/G ratio of 0.23 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.58 and a quick ratio of 3.56. The business has a 50 day simple moving average of $30.16 and a two-hundred day simple moving average of $33.12. Harmony Biosciences Holdings, Inc. has a 1-year low of $25.52 and a 1-year high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The company had revenue of $215.39 million during the quarter, compared to analysts’ expectations of $220.84 million. During the same quarter last year, the firm posted $0.78 EPS. Harmony Biosciences’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, research analysts predict that Harmony Biosciences Holdings, Inc. will post 3.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Mizuho set a $50.00 price objective on Harmony Biosciences in a report on Thursday, February 19th. Zacks Research upgraded Harmony Biosciences from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. UBS Group decreased their price objective on Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Bank of America cut their target price on Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 25th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Harmony Biosciences in a research report on Friday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $40.89.

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.