Evolve Private Wealth LLC Takes Position in Harmony Biosciences Holdings, Inc. $HRMY

Evolve Private Wealth LLC purchased a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 20,743 shares of the company’s stock, valued at approximately $755,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after acquiring an additional 643 shares during the period. Leonteq Securities AG bought a new position in Harmony Biosciences in the 4th quarter valued at $30,000. Allworth Financial LP increased its stake in Harmony Biosciences by 286.7% in the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after purchasing an additional 602 shares during the period. Clearstead Advisors LLC increased its stake in Harmony Biosciences by 145.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after purchasing an additional 699 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of Harmony Biosciences during the fourth quarter worth $47,000. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Trading Up 0.9%

Shares of NASDAQ HRMY opened at $38.50 on Tuesday. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $40.87. The firm has a market cap of $2.24 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 0.35 and a beta of 0.96. The business has a fifty day simple moving average of $36.41 and a two-hundred day simple moving average of $32.73. 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 (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.32. The business had revenue of $261.28 million for the quarter, compared to the consensus estimate of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The business’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.92 EPS. Analysts expect that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and set a $70.00 target price on shares of Harmony Biosciences in a research note on Tuesday, August 4th. UBS Group reiterated a “neutral” rating and set a $37.00 price objective on shares of Harmony Biosciences in a report on Wednesday, August 5th. Truist Financial boosted their price objective on shares of Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Finally, HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a research note on Thursday, July 16th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Harmony Biosciences has a consensus rating of “Hold” and an average target price of $45.50.

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.