Chase Investment Counsel Corp Takes $1.82 Million Position in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Chase Investment Counsel Corp acquired 50,000 shares of Harmony Biosciences, valued at approximately $1.82 million, giving it a 0.09% stake. Institutional investors collectively own 86.23% of the company.
• Harmony Biosciences reported quarterly earnings of $1.28 per share, beating estimates of $0.96, while revenue rose 30.3% year over year to $261.28 million.
• Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and an average price target of $45.50, compared with a recent share price of $38.12.

Chase Investment Counsel Corp bought a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 50,000 shares of the company's stock, valued at approximately $1,820,000. Chase Investment Counsel Corp owned approximately 0.09% of Harmony Biosciences at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in shares of Harmony Biosciences by 589.9% in 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. Leonteq Securities AG bought a new position in shares of Harmony Biosciences in the fourth quarter valued at about $30,000. Allworth Financial LP lifted its position in Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company's stock worth $30,000 after buying an additional 602 shares in the last quarter. Clearstead Advisors LLC lifted its position in 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 buying an additional 699 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Harmony Biosciences during the 4th quarter worth about $47,000. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $38.12 on Monday. Harmony Biosciences Holdings, Inc. has a 1 year low of $25.52 and a 1 year high of $40.87. The firm's 50-day moving average is $35.89 and its 200-day moving average is $32.67. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $2.22 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 0.35 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 for the quarter, topping analysts' consensus estimates of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The business had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. During the same period in the previous year, the firm posted $0.92 earnings per share. Harmony Biosciences's revenue for the quarter was up 30.3% compared to the same quarter last year. Equities analysts expect that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on HRMY. Wall Street Zen upgraded shares of Harmony Biosciences from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Zacks Research lowered shares of Harmony Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Oppenheimer reissued an "outperform" rating and set a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, August 4th. Truist Financial raised their price target on shares of Harmony Biosciences from $29.00 to $34.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. Finally, UBS Group reissued a "neutral" rating and issued a $37.00 price target on shares of Harmony Biosciences in a report on Wednesday, August 5th. Four research 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. Based on data from MarketBeat.com, Harmony Biosciences presently has an average rating of "Hold" and an average target price of $45.50.

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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