Exchange Traded Concepts LLC Makes New $1 Million Investment in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Exchange Traded Concepts LLC acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 30,256 shares of the company's stock, valued at approximately $1,004,000. Exchange Traded Concepts LLC owned about 0.05% of Harmony Biosciences at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Swiss National Bank lifted its stake in Harmony Biosciences by 28.2% in the fourth quarter. Swiss National Bank now owns 78,200 shares of the company's stock worth $2,691,000 after purchasing an additional 17,200 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Harmony Biosciences by 50.6% during the fourth quarter. Teacher Retirement System of Texas now owns 11,801 shares of the company's stock valued at $406,000 after acquiring an additional 3,964 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Harmony Biosciences by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock valued at $162,883,000 after acquiring an additional 1,262,362 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Harmony Biosciences by 21.8% during the fourth quarter. Two Sigma Advisers LP now owns 98,900 shares of the company's stock valued at $3,403,000 after acquiring an additional 17,700 shares in the last quarter. Finally, Amundi raised its stake in shares of Harmony Biosciences by 243.3% during the fourth quarter. Amundi now owns 18,402 shares of the company's stock valued at $635,000 after acquiring an additional 13,041 shares in the last quarter. Institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Up 0.1%

HRMY stock traded up $0.04 during trading on Monday, hitting $31.93. 649,593 shares of the company's stock traded hands, compared to its average volume of 624,899. The firm has a market capitalization of $1.83 billion, a P/E ratio of 12.19, a PEG ratio of 0.47 and a beta of 0.87. The business has a fifty day simple moving average of $32.64 and a two-hundred day simple moving average of $33.97. The company has a quick ratio of 3.63, a current ratio of 3.67 and a debt-to-equity ratio of 0.22. Harmony Biosciences Holdings, Inc. has a 1 year low of $26.47 and a 1 year high of $41.61.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HRMY. Mizuho lifted their price target on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. HC Wainwright reaffirmed a "buy" rating and set a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $49.00 price target on shares of Harmony Biosciences in a research note on Tuesday, May 6th. UBS Group decreased 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 note on Monday, April 28th. Finally, Oppenheimer started coverage on shares of Harmony Biosciences in a research note on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target for the company. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Harmony Biosciences currently has an average rating of "Buy" and an average price target of $53.63.

About Harmony Biosciences

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.