Hussman Strategic Advisors Inc. Grows Stake in Harmony Biosciences Holdings, Inc. $HRMY

Hussman Strategic Advisors Inc. lifted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 25.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,000 shares of the company’s stock after buying an additional 21,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Harmony Biosciences were worth $3,318,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of HRMY. Brooklyn Investment Group lifted its position in Harmony Biosciences by 1,031.9% during the 1st quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock worth $35,000 after acquiring an additional 970 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Harmony Biosciences in the first quarter valued at approximately $57,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Harmony Biosciences by 15.6% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock valued at $70,000 after purchasing an additional 299 shares during the period. CWM LLC lifted its position in shares of Harmony Biosciences by 34.8% during the first quarter. CWM LLC now owns 2,704 shares of the company’s stock worth $90,000 after purchasing an additional 698 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Harmony Biosciences by 222.9% during the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company’s stock worth $97,000 after purchasing an additional 2,022 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HRMY. UBS Group lowered their price target on shares of Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft lowered their target price on Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, September 25th. The Goldman Sachs Group initiated coverage on Harmony Biosciences in a research report on Thursday, July 10th. They set a “neutral” rating and a $33.00 target price on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Harmony Biosciences in a report on Tuesday, October 14th. Finally, Mizuho set a $36.00 price objective on Harmony Biosciences in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.13.

Harmony Biosciences Price Performance

HRMY opened at $29.33 on Tuesday. The company has a 50-day moving average of $30.52 and a 200-day moving average of $32.67. The company has a market capitalization of $1.69 billion, a P/E ratio of 9.46, a PEG ratio of 0.34 and a beta of 0.85. Harmony Biosciences Holdings, Inc. has a 1-year low of $25.52 and a 1-year high of $40.93. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.80 and a current ratio of 3.84.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). The company had revenue of $200.49 million for the quarter, compared to the consensus estimate of $204.37 million. Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 EPS. Equities analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.