BlackRock Inc. Acquires New Shares in Harmony Biosciences Holdings, Inc. $HRMY

BlackRock Inc. acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,101,965 shares of the company's stock, valued at approximately $258,583,000. BlackRock Inc. owned approximately 12.19% of Harmony Biosciences as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Nebula Research & Development LLC lifted its stake in Harmony Biosciences by 2.0% during the 2nd quarter. Nebula Research & Development LLC now owns 17,403 shares of the company's stock valued at $550,000 after acquiring an additional 348 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Harmony Biosciences by 2.4% in the second quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company's stock worth $717,000 after acquiring an additional 532 shares during the period. Allworth Financial LP raised its holdings in shares of 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 during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of 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 during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position 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 purchasing an additional 643 shares during the period. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analysts Set New Price Targets

HRMY has been the subject of a number of research reports. Oppenheimer reiterated an "outperform" rating and set a $70.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, August 4th. Mizuho increased their price objective on shares of Harmony Biosciences from $50.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Zacks Research downgraded shares of Harmony Biosciences from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Needham & Company LLC boosted their target price 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, HC Wainwright reiterated a "buy" rating and set a $55.00 price target on shares of Harmony Biosciences in a research note on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $47.11.

Harmony Biosciences Stock Up 1.8%

HRMY opened at $39.66 on Thursday. The firm's fifty day moving average is $36.63 and its 200 day moving average is $32.76. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $40.87. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 0.36 and a beta of 0.96. 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 (NASDAQ:HRMY - Get Free Report) last released 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. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The firm had revenue of $261.28 million during the quarter, compared to analysts' expectations of $250.77 million. During the same quarter last year, the business posted $0.92 earnings per share. The firm's revenue was up 30.3% on a year-over-year basis. On average, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share 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.

Want to see what other hedge funds are holding HRMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source