PDT Partners LLC Buys Shares of 26,835 Harmony Biosciences Holdings, Inc. $HRMY

PDT Partners LLC bought a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 26,835 shares of the company’s stock, valued at approximately $977,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nebula Research & Development LLC increased its holdings in shares of Harmony Biosciences by 2.0% during the second quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock worth $550,000 after buying an additional 348 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Harmony Biosciences by 2.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company’s stock valued at $717,000 after acquiring an additional 532 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after acquiring an additional 602 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Harmony Biosciences by 30.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the company’s stock worth $100,000 after acquiring an additional 619 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 643 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

Shares of Harmony Biosciences stock opened at $39.87 on Friday. 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 twelve month low of $25.52 and a twelve month high of $40.87. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 0.37 and a beta of 0.96. The company’s fifty day moving average is $36.76 and its 200 day moving average is $32.78.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.32. The business had revenue of $261.28 million during the quarter, compared to analyst estimates of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.Harmony Biosciences’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period last year, the company earned $0.92 EPS. Sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a report on Thursday, July 16th. Wall Street Zen upgraded Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Oppenheimer restated an “outperform” rating and set a $70.00 price target on shares of Harmony Biosciences in a report on Tuesday, August 4th. Zacks Research downgraded Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Wolfe Research initiated coverage on shares of Harmony Biosciences in a report on Wednesday. They issued an “outperform” rating and a $60.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $47.11.

Harmony Biosciences 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.