Aurora Investment Counsel Invests $2.37 Million in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Aurora Investment Counsel acquired 65,148 Harmony Biosciences shares worth approximately $2.37 million in the second quarter, making HRMY about 1.2% of its portfolio. Institutional investors collectively own 86.23% of the company.
• Harmony Biosciences reported quarterly EPS of $1.28, beating estimates of $0.96, while revenue rose 30.3% year over year to $261.28 million, above expectations.
• HRMY was trading near $39.93, close to its 52-week high of $40.87. Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $45.50.

Aurora Investment Counsel acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 65,148 shares of the company's stock, valued at approximately $2,372,000. Harmony Biosciences accounts for approximately 1.2% of Aurora Investment Counsel's portfolio, making the stock its 22nd largest holding. Aurora Investment Counsel owned about 0.11% of Harmony Biosciences at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nebula Research & Development LLC grew its position in Harmony Biosciences by 2.0% during the second quarter. Nebula Research & Development LLC now owns 17,403 shares of the company's stock valued at $550,000 after buying an additional 348 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Harmony Biosciences by 2.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company's stock worth $717,000 after purchasing an additional 532 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Harmony Biosciences by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,799 shares of the company's stock worth $105,000 after purchasing an additional 575 shares during the period. Allworth Financial LP lifted its position in Harmony Biosciences by 286.7% during 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 in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Harmony Biosciences by 30.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the company's stock valued at $100,000 after purchasing an additional 619 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Up 2.8%

HRMY opened at $39.93 on Thursday. The company has a market capitalization of $2.33 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.36 and a beta of 0.96. The firm has a 50-day simple moving average of $36.19 and a two-hundred day simple moving average of $32.71. 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 Holdings, Inc. has a 52 week low of $25.52 and a 52 week high of $40.87.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.32. The firm had revenue of $261.28 million for the quarter, compared to analysts' expectations 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 period in the previous year, the firm posted $0.92 earnings per share. Analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HRMY. HC Wainwright reiterated a "buy" rating and set a $55.00 price objective on shares of Harmony Biosciences in a research note on Thursday, July 16th. Oppenheimer restated an "outperform" rating and set a $70.00 target price on shares of Harmony Biosciences in a research note on Tuesday, August 4th. Wall Street Zen raised shares of Harmony Biosciences from a "buy" rating to a "strong-buy" rating in a report on Sunday. Truist Financial upped their price target on shares of Harmony Biosciences from $29.00 to $34.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $39.00 price objective on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $45.50.

Harmony Biosciences 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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