GSA Capital Partners LLP Purchases New Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Key Points

• GSA Capital Partners LLP has invested approximately $688,000 in Harmony Biosciences Holdings, acquiring over 20,000 shares during the first quarter.
• Several institutional investors have increased their stakes in Harmony Biosciences, leading to 86.23% of the company's stock now being held by institutional investors and hedge funds.
• Wall Street analysts have a positive outlook for Harmony Biosciences, with a consensus rating of "Buy" and an average target price of $51.00.

GSA Capital Partners LLP acquired a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,722 shares of the company's stock, valued at approximately $688,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in 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 purchasing an additional 1,262,362 shares during the last quarter. Corebridge Financial Inc. grew its position in shares of Harmony Biosciences by 17.1% in the 4th quarter. Corebridge Financial Inc. now owns 20,296 shares of the company's stock worth $698,000 after buying an additional 2,966 shares during the period. Prudential Financial Inc. grew its position in shares of Harmony Biosciences by 91.6% in the 4th quarter. Prudential Financial Inc. now owns 59,911 shares of the company's stock worth $2,062,000 after buying an additional 28,650 shares during the period. JPMorgan Chase & Co. grew its position in Harmony Biosciences by 2.4% during the 4th quarter. JPMorgan Chase & Co. now owns 235,882 shares of the company's stock valued at $8,117,000 after purchasing an additional 5,454 shares during the last quarter. Finally, Norges Bank purchased a new stake in Harmony Biosciences during the 4th quarter valued at about $16,118,000. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HRMY. Truist Financial initiated coverage on shares of Harmony Biosciences in a research note on Monday, July 21st. They issued a "buy" rating and a $48.00 price objective on the stock. Oppenheimer initiated coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They issued an "outperform" rating and a $61.00 target price for the company. Cantor Fitzgerald upgraded Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. Mizuho raised their price target on Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Finally, HC Wainwright reiterated a "buy" rating and set a $70.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 8th. One 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $51.00.

Harmony Biosciences Stock Down 2.1%

HRMY stock traded down $0.74 during mid-day trading on Wednesday, reaching $34.20. The company had a trading volume of 275,305 shares, compared to its average volume of 667,871. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.63 and a current ratio of 3.67. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 0.48 and a beta of 0.84. The firm has a fifty day simple moving average of $34.14 and a 200 day simple moving average of $33.91. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $26.47 and a fifty-two week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, topping the consensus estimate 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 was up 19.5% compared to the same quarter last year. Analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Harmony Biosciences Company 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.