Exchange Traded Concepts LLC Buys New Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Exchange Traded Concepts LLC bought a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 30,256 shares of the company's stock, valued at approximately $1,004,000. Exchange Traded Concepts LLC owned 0.05% of Harmony Biosciences as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Harmony Biosciences by 1.9% during the 4th quarter. FMR LLC now owns 5,329,902 shares of the company's stock worth $183,402,000 after acquiring an additional 101,182 shares in the last quarter. Vanguard Group Inc. raised its holdings in Harmony Biosciences by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock worth $162,883,000 after purchasing an additional 1,262,362 shares during the period. Deep Track Capital LP purchased a new position in Harmony Biosciences during the fourth quarter worth approximately $49,894,000. Dimensional Fund Advisors LP grew its holdings in Harmony Biosciences by 15.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company's stock valued at $41,739,000 after purchasing an additional 160,490 shares during the period. Finally, American Century Companies Inc. grew its holdings in Harmony Biosciences by 28.7% in the fourth quarter. American Century Companies Inc. now owns 1,102,604 shares of the company's stock valued at $37,941,000 after purchasing an additional 246,140 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HRMY. Oppenheimer started coverage on Harmony Biosciences in a research note on Monday, June 2nd. They set an "outperform" rating and a $61.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $49.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, May 6th. Mizuho lifted their target price on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Cantor Fitzgerald raised shares of Harmony Biosciences to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, UBS Group reduced their price target on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Harmony Biosciences currently has a consensus rating of "Buy" and a consensus price target of $53.00.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY traded down $0.59 during mid-day trading on Friday, reaching $31.89. The company's stock had a trading volume of 662,452 shares, compared to its average volume of 626,791. The stock has a market capitalization of $1.83 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.48 and a beta of 0.87. Harmony Biosciences Holdings, Inc. has a 1-year low of $26.47 and a 1-year high of $41.61. The stock has a 50-day moving average of $32.54 and a two-hundred day moving average of $34.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.63 and a current ratio of 3.67.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.19. Harmony Biosciences had a return on equity of 24.32% and a net margin of 20.53%. The company had revenue of $184.73 million for the quarter, compared to analyst estimates of $184.26 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Harmony Biosciences Profile

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.