Gallacher Capital Management LLC Takes Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Gallacher Capital Management LLC purchased a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,568 shares of the company's stock, valued at approximately $318,000.

Other institutional investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new position in Harmony Biosciences during the first quarter valued at approximately $29,000. GF Fund Management CO. LTD. acquired a new position in shares of Harmony Biosciences during the fourth quarter worth $41,000. PNC Financial Services Group Inc. increased its holdings in shares of Harmony Biosciences by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock worth $80,000 after buying an additional 519 shares in the last quarter. CWM LLC increased its holdings in shares of Harmony Biosciences by 34.8% during the first quarter. CWM LLC now owns 2,704 shares of the company's stock worth $90,000 after buying an additional 698 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Harmony Biosciences by 222.9% during the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $97,000 after buying an additional 2,022 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HRMY has been the subject of several research analyst reports. The Goldman Sachs Group upgraded shares of Harmony Biosciences to a "hold" rating and set a $33.00 price target for the company in a report on Thursday, July 10th. Cantor Fitzgerald upgraded shares of Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. UBS Group decreased their price objective on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a report on Monday, April 28th. Oppenheimer assumed coverage on Harmony Biosciences in a report on Monday, June 2nd. They issued an "outperform" rating and a $61.00 price objective for the company. Finally, Needham & Company LLC restated a "buy" rating and issued a $49.00 price objective on shares of Harmony Biosciences in a report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Harmony Biosciences presently has an average rating of "Buy" and a consensus target price of $51.00.

Harmony Biosciences Stock Down 1.3%

NASDAQ HRMY traded down $0.47 during trading hours on Thursday, hitting $36.75. The company's stock had a trading volume of 175,795 shares, compared to its average volume of 666,139. Harmony Biosciences Holdings, Inc. has a 52 week low of $26.47 and a 52 week high of $41.61. The company has a market capitalization of $2.11 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.50 and a beta of 0.83. The company has a current ratio of 3.67, a quick ratio of 3.63 and a debt-to-equity ratio of 0.22. The company's 50-day simple moving average is $33.96 and its two-hundred day simple moving average is $33.95.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share 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 business had revenue of $184.73 million for the quarter, compared to analysts' expectations of $184.26 million. During the same quarter last year, the firm earned $0.67 EPS. The firm's revenue for the quarter was up 19.5% compared to the same quarter last year. 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.