Harmony Biosciences Holdings, Inc. $HRMY Shares Newly Bought by Point Nemo Capital LLC

Key Points

• Point Nemo Capital bought 36,465 Harmony Biosciences shares in the third quarter, worth about $1.43 million and equal to 0.06% of the company. Institutional investors collectively own 86.23% of the stock.
• Harmony reported quarterly EPS of $0.81, below the $1.09 consensus estimate, and revenue of $268.92 million, also short of expectations; revenue nevertheless grew 12.3% year over year.
• Insiders sold 72,406 shares worth about $3.11 million over the past three months. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $48.

Point Nemo Capital LLC purchased a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 36,465 shares of the company's stock, valued at approximately $1,432,000. Point Nemo Capital LLC owned 0.06% of Harmony Biosciences at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in Harmony Biosciences by 166.7% in the third quarter. Farther Finance Advisors LLC now owns 816 shares of the company's stock worth $32,000 after buying an additional 510 shares during the period. Nykredit A S purchased a new position in shares of Harmony Biosciences during the 2nd quarter worth approximately $33,000. Signature Equity Partners LLC purchased a new position in shares of Harmony Biosciences during the 3rd quarter worth approximately $37,000. Integrated Wealth Concepts LLC purchased a new position in shares of Harmony Biosciences during the 2nd quarter worth approximately $65,000. Finally, Signaturefd LLC raised its position in shares of Harmony Biosciences by 200.0% in the 3rd quarter. Signaturefd LLC now owns 1,686 shares of the company's stock worth $66,000 after acquiring an additional 1,124 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Harmony Biosciences

In other news, insider Kumar Budur sold 35,852 shares of the company's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $43.05, for a total transaction of $1,543,428.60. Following the transaction, the insider directly owned 13,115 shares of the company's stock, valued at $564,600.75. This represents a 73.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 72,406 shares of company stock valued at $3,108,520 in the last three months. 11.00% of the stock is owned by insiders.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $33.11 on Friday. The firm has a market cap of $1.94 billion, a P/E ratio of 10.96, a PEG ratio of 0.27 and a beta of 1.00. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.90 and a twelve month high of $43.49. The company has a quick ratio of 3.45, a current ratio of 3.44 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $39.36 and a 200 day moving average of $34.70.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.28). The business had revenue of $268.92 million for the quarter, compared to analysts' expectations of $272.05 million. Harmony Biosciences had a net margin of 18.05% and a return on equity of 18.55%. The business's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 earnings per share. As a group, research analysts expect that Harmony Biosciences Holdings, Inc. will post 3.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HRMY. Needham & Company LLC reissued a "buy" rating and set a $50.00 price objective on shares of Harmony Biosciences in a research report on Monday, October 19th. Zacks Research upgraded shares of Harmony Biosciences from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 15th. Weiss Ratings raised shares of Harmony Biosciences from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, October 12th. Wall Street Zen lowered shares of Harmony Biosciences from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Truist Financial increased their price target on shares of Harmony Biosciences from $29.00 to $34.00 and gave the stock a "hold" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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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