30,813 Shares in Harmony Biosciences Holdings, Inc. $HRMY Acquired by Freestone Grove Partners LP

Key Points

• Freestone Grove Partners acquired 30,813 Harmony Biosciences shares worth approximately $1.12 million, joining other institutional investors; institutions and hedge funds own 86.23% of the company.
• Harmony Biosciences exceeded quarterly expectations, reporting $1.28 EPS versus the $0.96 consensus and $261.28 million in revenue, up 30.3% year over year.
• Analyst sentiment is mixed but leans positive: five analysts rate HRMY a Buy, five a Hold and one a Sell, producing an average “Hold” rating and a $47.11 price target.

Freestone Grove Partners LP purchased a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 30,813 shares of the company's stock, valued at approximately $1,122,000. Freestone Grove Partners LP owned 0.05% of Harmony Biosciences as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in Harmony Biosciences by 589.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company's stock valued at $28,000 after purchasing an additional 643 shares in the last quarter. Leonteq Securities AG purchased a new position in Harmony Biosciences in the fourth quarter valued at about $30,000. Allworth Financial LP lifted its stake in shares of Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company's stock worth $30,000 after purchasing an additional 602 shares in the last quarter. Clearstead Advisors LLC lifted its stake in shares of Harmony Biosciences by 145.9% during 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 in the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Harmony Biosciences in the fourth quarter worth about $47,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $39.21 on Friday. 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 one year low of $25.52 and a one year high of $40.87. The company's 50-day simple moving average is $36.88 and its 200-day simple moving average is $32.82. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 0.36 and a beta of 0.96.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.32. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The business had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. During the same period in the prior year, the company posted $0.92 EPS. The business's revenue was up 30.3% compared to the same quarter last year. Equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on HRMY. Mizuho raised their target price on 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 issued a $37.00 price target on shares of Harmony Biosciences in a report on Wednesday, August 5th. Oppenheimer reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, August 4th. Needham & Company LLC increased their price objective on shares of Harmony Biosciences from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Finally, Wolfe Research initiated coverage on shares of Harmony Biosciences in a research note on Wednesday. They set an "outperform" rating and a $60.00 price objective on the stock. Five 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 data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $47.11.

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.

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