LSV Asset Management Acquires 238,744 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Key Points

• LSV Asset Management increased its stake in Harmony Biosciences by 25.0%, acquiring 238,744 shares, bringing its total holdings to 1,194,961 shares valued at approximately $39.66 million.
• Research firms have varying ratings on Harmony Biosciences, with Deutsche Bank and Needham & Company both maintaining "buy" ratings and target prices of $55.00 and $49.00, respectively.
• The company's stock has seen a price increase of 3.3%, closing at $35.54, having reported strong earnings with a net margin of 20.53% and a revenue of $184.73 million for the last quarter.

LSV Asset Management lifted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 25.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,194,961 shares of the company's stock after purchasing an additional 238,744 shares during the period. LSV Asset Management owned 2.08% of Harmony Biosciences worth $39,661,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Aurora Investment Counsel increased its holdings in shares of Harmony Biosciences by 0.6% in the first quarter. Aurora Investment Counsel now owns 61,667 shares of the company's stock valued at $2,047,000 after purchasing an additional 374 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Harmony Biosciences by 2.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company's stock valued at $704,000 after purchasing an additional 420 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Harmony Biosciences by 0.4% in the first quarter. Rhumbline Advisers now owns 109,073 shares of the company's stock valued at $3,620,000 after purchasing an additional 485 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Harmony Biosciences by 1.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,331 shares of the company's stock valued at $2,145,000 after purchasing an additional 678 shares in the last quarter. Finally, Aviva PLC increased its holdings in shares of Harmony Biosciences by 3.9% in the fourth quarter. Aviva PLC now owns 18,072 shares of the company's stock valued at $622,000 after purchasing an additional 686 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on HRMY. The Goldman Sachs Group began coverage on shares of Harmony Biosciences in a report on Thursday, July 10th. They set a "neutral" rating and a $33.00 target price for the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $55.00 target price (up previously from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $49.00 target price on shares of Harmony Biosciences in a report on Tuesday, May 6th. HC Wainwright reaffirmed a "buy" rating and set a $70.00 target price on shares of Harmony Biosciences in a report on Tuesday, April 8th. Finally, Mizuho boosted their price target on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $51.00.

Harmony Biosciences Stock Up 3.3%

HRMY traded up $1.14 during trading on Monday, hitting $35.54. The company had a trading volume of 672,924 shares, compared to its average volume of 606,029. The company has a market capitalization of $2.04 billion, a PE ratio of 13.56, a PEG ratio of 0.47 and a beta of 0.84. Harmony Biosciences Holdings, Inc. has a one year low of $26.47 and a one year high of $41.61. The firm's 50-day moving average price is $34.09 and its 200 day moving average price is $33.93. 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 (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.59 by $0.19. The business had revenue of $184.73 million for the quarter, compared to analysts' expectations of $184.26 million. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. The firm's revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. As a group, equities analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

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.