Arrowstreet Capital Limited Partnership Has $38.71 Million Stock Holdings in Harmony Biosciences Holdings, Inc. $HRMY

Arrowstreet Capital Limited Partnership cut its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 7.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,382,113 shares of the company's stock after selling 109,492 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 2.39% of Harmony Biosciences worth $38,713,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in Harmony Biosciences by 589.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company's stock valued at $28,000 after buying an additional 643 shares in the last quarter. Allworth Financial LP lifted its position in shares of Harmony Biosciences by 286.7% in the 4th quarter. Allworth Financial LP now owns 812 shares of the company's stock valued at $30,000 after acquiring an additional 602 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Harmony Biosciences in the 4th quarter valued at approximately $30,000. National Bank of Canada FI acquired a new position in Harmony Biosciences in the 3rd quarter worth approximately $40,000. Finally, Clearstead Advisors LLC boosted its stake in Harmony Biosciences by 145.9% in 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.

Analysts Set New Price Targets

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

Harmony Biosciences Stock Down 0.7%

Harmony Biosciences stock opened at $35.77 on Wednesday. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $40.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58. The firm has a market cap of $2.07 billion, a PE ratio of 14.42, a P/E/G ratio of 0.33 and a beta of 0.94. The firm's 50 day moving average price is $34.18 and its two-hundred day moving average price is $32.58.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.21). Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The company had revenue of $215.39 million for the quarter, compared to analyst estimates of $220.84 million. During the same period last year, the business earned $0.78 EPS. The company's quarterly revenue was up 16.6% on a year-over-year basis. On average, research analysts predict that Harmony Biosciences Holdings, Inc. will post 3.3 EPS for the current fiscal 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.

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