Algert Global LLC Raises Stake in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Algert Global increased its Harmony Biosciences stake by 30.2% in the second quarter, reaching 144,849 shares valued at approximately $5.27 million. Institutional investors collectively own 86.23% of HRMY.
• Analyst sentiment is mixed, with five Buy, five Hold, and one Sell rating; the consensus rating is Hold with a $47.11 price target. Wolfe Research and Oppenheimer issued Outperform ratings with targets of $60 and $70, respectively.
• Harmony reported stronger-than-expected quarterly results, posting $1.28 in EPS versus the $0.96 consensus and $261.28 million in revenue, up 30.3% year over year. The stock recently opened at $39.87, near its 52-week high of $40.87.

Algert Global LLC lifted its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 30.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 144,849 shares of the company's stock after acquiring an additional 33,591 shares during the period. Algert Global LLC owned 0.25% of Harmony Biosciences worth $5,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company's stock worth $28,000 after buying an additional 643 shares during the last quarter. Allworth Financial LP raised its position in Harmony Biosciences by 286.7% in the fourth quarter. Allworth Financial LP now owns 812 shares of the company's stock valued at $30,000 after purchasing an additional 602 shares during the period. Leonteq Securities AG acquired a new position in shares of Harmony Biosciences in the 4th quarter valued at $30,000. National Bank of Canada FI acquired a new position in shares of Harmony Biosciences in the 3rd quarter valued at $40,000. Finally, Clearstead Advisors LLC grew its holdings in shares of Harmony Biosciences by 145.9% during the 4th 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. Hedge funds and other institutional investors own 86.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial raised their price objective on Harmony Biosciences from $29.00 to $34.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $39.00 target price on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Wolfe Research began coverage on shares of Harmony Biosciences in a research report on Wednesday. They set an "outperform" rating and a $60.00 price target for the company. Oppenheimer reissued an "outperform" rating and issued a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, August 4th. Finally, UBS Group restated a "neutral" rating and issued a $37.00 price objective on shares of Harmony Biosciences in a report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $47.11.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $39.87 on Friday. The firm has a market cap of $2.32 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 0.37 and a beta of 0.96. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $40.87. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. The company's 50 day moving average is $36.76 and its two-hundred day moving average is $32.78.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the company earned $0.92 earnings per share. The company's revenue was up 30.3% on a year-over-year basis. On average, research analysts expect that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.

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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