Harmony Biosciences Holdings, Inc. $HRMY Shares Bought by Bridge City Capital LLC

Key Points

• Bridge City Capital increased its Harmony Biosciences stake by 26.5% in the third quarter, adding 55,539 shares to own 264,739 shares valued at approximately $10.4 million. Institutional investors collectively hold 86.23% of HRMY.
• Harmony Biosciences reported stronger-than-expected quarterly results, with earnings of $1.28 per share versus a $0.96 consensus estimate and revenue up 30.3% year over year to $261.28 million.
• Analysts maintain a generally positive outlook, giving HRMY a consensus “Moderate Buy” rating and an average price target of $48, above its reported market price of $38.76; however, insiders sold 72,406 shares worth about $3.1 million during the quarter.

Bridge City Capital LLC grew its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 26.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 264,739 shares of the company's stock after acquiring an additional 55,539 shares during the quarter. Harmony Biosciences comprises approximately 2.2% of Bridge City Capital LLC's portfolio, making the stock its 4th biggest position. Bridge City Capital LLC owned approximately 0.45% of Harmony Biosciences worth $10,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Harmony Biosciences during the 3rd quarter valued at approximately $117,000. Profund Advisors LLC grew its stake in shares of Harmony Biosciences by 311.7% during the third quarter. Profund Advisors LLC now owns 39,094 shares of the company's stock valued at $1,535,000 after buying an additional 29,599 shares during the last quarter. Summit Global Investments lifted its holdings in Harmony Biosciences by 7.8% during the 3rd quarter. Summit Global Investments now owns 29,143 shares of the company's stock valued at $1,144,000 after buying an additional 2,109 shares in the last quarter. State of Wyoming increased its stake in shares of Harmony Biosciences by 333.5% during the third quarter. State of Wyoming now owns 9,858 shares of the company's stock valued at $387,000 after buying an additional 7,584 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its holdings in Harmony Biosciences by 66.8% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 75,882 shares of the company's stock worth $2,979,000 after buying an additional 30,400 shares during the period. Institutional investors own 86.23% of the company's stock.

Insider Buying and Selling at Harmony Biosciences

In related news, insider Kumar Budur sold 35,852 shares of the business's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $43.05, for a total value of $1,543,428.60. Following the sale, the insider owned 13,115 shares of the company's stock, valued at $564,600.75. The trade was a 73.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 72,406 shares of company stock worth $3,108,520 in the last quarter. Insiders own 11.00% of the company's stock.

Harmony Biosciences Stock Performance

HRMY stock opened at $38.76 on Monday. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.31 and a beta of 1.00. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. Harmony Biosciences Holdings, Inc. has a 52 week low of $25.90 and a 52 week high of $43.49. The business has a fifty day simple moving average of $39.76 and a 200-day simple moving average of $34.73.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.32. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%. The company had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. During the same period last year, the firm earned $0.92 earnings per share. The company's revenue was up 30.3% on a year-over-year basis. On average, equities research analysts expect that Harmony Biosciences Holdings, Inc. will post 3.73 EPS for the current year.

Wall Street Analysts Forecast Growth

HRMY has been the subject of several analyst reports. Mizuho set a $49.00 price objective on Harmony Biosciences in a report on Thursday. Oppenheimer reissued an "outperform" rating on shares of Harmony Biosciences in a report on Thursday, September 24th. UBS Group reiterated a "neutral" rating and set a $37.00 price target on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Truist Financial raised their price objective on Harmony Biosciences from $29.00 to $34.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. Finally, LADENBURG THALM/SH SH started coverage on shares of Harmony Biosciences in a report on Thursday, October 15th. They set a "buy" rating and a $55.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $48.00.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial-stage biopharmaceutical company focused on developing and providing therapies for patients with rare neurological disorders. The company's activities center on conditions involving sleep-wake regulation and other central nervous system disorders where treatment options may be limited.

Harmony's principal product is WAKIX (pitolisant), an oral, non-scheduled treatment that acts as a histamine-3 receptor antagonist/inverse agonist. In the United States, WAKIX is approved for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy and for excessive daytime sleepiness in pediatric patients aged 6 and older with narcolepsy.

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