23,883 Shares in Harmony Biosciences Holdings, Inc. $HRMY Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 23,883 shares of the company’s stock, valued at approximately $870,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Harmony Biosciences during the 2nd quarter valued at approximately $258,583,000. Dimensional Fund Advisors LP lifted its holdings in shares of Harmony Biosciences by 13.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company’s stock worth $58,157,000 after buying an additional 245,784 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Harmony Biosciences by 109.9% in the first quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after buying an additional 1,056,507 shares in the last quarter. State Street Corp boosted its position in shares of Harmony Biosciences by 0.5% during the fourth quarter. State Street Corp now owns 1,661,850 shares of the company’s stock worth $62,186,000 after acquiring an additional 8,246 shares during the last quarter. Finally, LSV Asset Management boosted its position in shares of 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 acquiring an additional 62,200 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on HRMY shares. Zacks Research downgraded shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Mizuho increased their price objective on shares of Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, July 31st. UBS Group restated a “neutral” rating and set a $37.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Finally, Wall Street Zen raised Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $47.11.

Harmony Biosciences Trading Up 0.9%

Shares of HRMY opened at $42.25 on Friday. The stock has a market capitalization of $2.46 billion, a PE ratio of 13.72, a P/E/G ratio of 0.39 and a beta of 0.93. The company’s fifty day moving average is $37.60 and its 200 day moving average is $32.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $43.49.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, beating 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 business had revenue of $261.28 million during the quarter, compared to analyst estimates of $250.77 million. During the same quarter last year, the business earned $0.92 earnings per share. Harmony Biosciences’s quarterly revenue was up 30.3% compared to the same quarter last year. Sell-side analysts expect that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

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.