Virtus Advisers LLC Acquires Shares of 29,253 Harmony Biosciences Holdings, Inc. $HRMY

Virtus Advisers LLC acquired a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 29,253 shares of the company’s stock, valued at approximately $1,065,000.

A number of other hedge funds have also modified their holdings of HRMY. EverSource Wealth Advisors LLC lifted its position in shares of Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after buying an additional 643 shares during the period. Leonteq Securities AG bought a new stake in Harmony Biosciences in the fourth quarter valued at $30,000. Allworth Financial LP raised its stake in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after acquiring an additional 602 shares in the last quarter. Clearstead Advisors LLC raised its stake in 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. Finally, Kestra Advisory Services LLC bought a new position in shares of Harmony Biosciences during the fourth quarter valued at $47,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HRMY has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Mizuho boosted their price target on shares of Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Needham & Company LLC raised their price objective on shares of Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Zacks Research cut shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Oppenheimer restated an “outperform” rating and set a $70.00 price target on shares of Harmony Biosciences in a research report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.50.

Harmony Biosciences Trading Down 4.7%

Shares of HRMY opened at $38.07 on Friday. The firm has a market capitalization of $2.22 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 0.37 and a beta of 0.96. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. Harmony Biosciences Holdings, Inc. has a 12-month low of $25.52 and a 12-month high of $40.87. The stock’s fifty day simple moving average is $36.25 and its 200-day simple moving average is $32.72.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $250.77 million. During the same quarter in the previous year, the company earned $0.92 EPS. Harmony Biosciences’s revenue was up 30.3% on a year-over-year basis. As a group, research 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.