CX Institutional Increases Position in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• CX Institutional increased its stake in Harmony Biosciences by 19.7% to 275,809 shares (about 0.48%) valued at $10.32M, and institutional investors now own roughly 86.23% of the stock.
• Analysts are mixed with a consensus rating of "Hold" and an average target of $42.67 (breakdown: 1 Strong Buy, 4 Buy, 5 Hold, 2 Sell), and several firms recently cut targets or downgraded the shares.
• Harmony missed EPS expectations (reported $0.38 vs. $0.84 est.) but revenue rose 21.1% to $243.78M; the stock trades near $31.83 with a market cap of $1.84B and a PE of 11.75.

CX Institutional grew its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 19.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 275,809 shares of the company's stock after acquiring an additional 45,376 shares during the quarter. CX Institutional owned about 0.48% of Harmony Biosciences worth $10,321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HRMY. Amundi increased its holdings in shares of Harmony Biosciences by 115.6% in the 1st quarter. Amundi now owns 39,668 shares of the company's stock valued at $1,229,000 after acquiring an additional 21,266 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Harmony Biosciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company's stock worth $752,000 after buying an additional 984 shares during the last quarter. Empowered Funds LLC purchased a new position in Harmony Biosciences during the 1st quarter worth $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Harmony Biosciences by 53.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company's stock worth $3,166,000 after buying an additional 33,058 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in Harmony Biosciences by 9.8% during the 2nd quarter. Cetera Investment Advisers now owns 8,404 shares of the company's stock worth $266,000 after buying an additional 748 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HRMY shares. Bank of America dropped their target price on Harmony Biosciences from $32.00 to $28.00 and set an "underperform" rating on the stock in a research note on Wednesday, February 25th. HC Wainwright restated a "buy" rating and set a $55.00 target price on shares of Harmony Biosciences in a research note on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft downgraded Harmony Biosciences from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a research note on Monday, February 23rd. Truist Financial downgraded Harmony Biosciences from a "buy" rating to a "hold" rating in a research note on Monday, February 23rd. Finally, Needham & Company LLC dropped their target price on Harmony Biosciences from $46.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $42.67.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $31.83 on Friday. The stock has a market cap of $1.84 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.43 and a beta of 0.97. The business has a 50-day simple moving average of $28.76 and a 200-day simple moving average of $32.87. The company has a quick ratio of 3.58, a current ratio of 3.60 and a debt-to-equity ratio of 0.17. 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 quarterly earnings data on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.46). The company had revenue of $243.78 million during the quarter, compared to analyst estimates of $240.04 million. Harmony Biosciences had a net margin of 18.29% and a return on equity of 19.86%. The business's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. On average, equities analysts expect that Harmony Biosciences Holdings, Inc. will post 3.34 EPS for the current 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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