Sanctuary Advisors LLC Makes New Investment in Harmony Biosciences Holdings, Inc. $HRMY

Sanctuary Advisors LLC bought a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 36,778 shares of the company’s stock, valued at approximately $1,030,000.

Several other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake 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 purchasing an additional 1,056,507 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Harmony Biosciences by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,830,726 shares of the company’s stock valued at $68,507,000 after purchasing an additional 139,145 shares during the period. State Street Corp lifted its stake in shares of Harmony Biosciences by 0.5% in the fourth quarter. State Street Corp now owns 1,661,850 shares of the company’s stock valued at $62,186,000 after purchasing an additional 8,246 shares during the period. LSV Asset Management boosted its holdings in Harmony Biosciences by 3.9% during the fourth quarter. LSV Asset Management now owns 1,657,093 shares of the company’s stock worth $62,008,000 after buying an additional 62,200 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Harmony Biosciences by 15.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,491,605 shares of the company’s stock worth $55,816,000 after buying an additional 196,224 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $35.32 on Friday. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 0.33 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 company’s 50-day moving average price is $33.95 and its 200 day moving average price is $32.63. The company has a current ratio of 3.58, a quick ratio of 3.56 and a debt-to-equity ratio of 0.15.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.21). The business had revenue of $215.39 million for 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%. The business’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 earnings per share. As a group, research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HRMY has been the topic of several recent analyst reports. Truist Financial upped their target price on shares of Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Weiss Ratings raised Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft upped their price target on Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a report on Tuesday, June 30th. Finally, Zacks Research raised Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Harmony Biosciences currently has an average rating of “Moderate Buy” and an average price target of $42.50.

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.