Chase Investment Counsel Corp Grows Stock Position in Harmony Biosciences Holdings, Inc. $HRMY

Chase Investment Counsel Corp raised its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 146.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the company’s stock after acquiring an additional 29,734 shares during the quarter. Chase Investment Counsel Corp owned 0.09% of Harmony Biosciences worth $1,400,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of HRMY. Amundi lifted its position in shares of Harmony Biosciences by 115.6% during the first quarter. Amundi now owns 39,668 shares of the company’s stock worth $1,229,000 after purchasing an additional 21,266 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Harmony Biosciences by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock worth $752,000 after buying an additional 984 shares in the last quarter. Empowered Funds LLC acquired a new position in Harmony Biosciences in the 1st quarter worth $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Harmony Biosciences by 53.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company’s stock valued at $3,166,000 after buying an additional 33,058 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in Harmony Biosciences by 9.8% in the 2nd quarter. Cetera Investment Advisers now owns 8,404 shares of the company’s stock valued at $266,000 after buying an additional 748 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Tuesday, June 30th. HC Wainwright reissued a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a report on Thursday, July 16th. Truist Financial raised their price objective on Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Weiss Ratings upgraded Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Finally, Zacks Research raised Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Harmony Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $36.84 on Wednesday. Harmony Biosciences Holdings, Inc. has a 1-year low of $25.52 and a 1-year high of $40.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.58 and a quick ratio of 3.56. The business’s fifty day moving average price is $33.66 and its two-hundred day moving average price is $32.64. The firm has a market capitalization of $2.13 billion, a PE ratio of 14.85, a P/E/G ratio of 0.32 and a beta of 0.94.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.21). The firm had revenue of $215.39 million for the quarter, compared to analyst estimates 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 period last year, the firm posted $0.78 EPS. On average, research analysts expect that Harmony Biosciences Holdings, Inc. will post 3.26 EPS for the current 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.