Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Bought by LSV Asset Management

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 grew its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 25.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,194,961 shares of the company's stock after buying an additional 238,744 shares during the quarter. LSV Asset Management owned approximately 2.08% of Harmony Biosciences worth $39,661,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in 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 purchasing an additional 2,022 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Harmony Biosciences by 52.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,221 shares of the company's stock valued at $671,000 after buying an additional 6,915 shares in the last quarter. Arizona State Retirement System lifted its holdings in Harmony Biosciences by 6.4% during the first quarter. Arizona State Retirement System now owns 12,261 shares of the company's stock worth $407,000 after acquiring an additional 737 shares during the period. Vanguard Group Inc. boosted its position in shares of Harmony Biosciences by 36.4% in the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock valued at $162,883,000 after acquiring an additional 1,262,362 shares during the period. Finally, Two Sigma Advisers LP increased its position in shares of Harmony Biosciences by 21.8% during the 4th quarter. Two Sigma Advisers LP now owns 98,900 shares of the company's stock valued at $3,403,000 after purchasing an additional 17,700 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY traded down $0.48 during midday trading on Thursday, reaching $34.19. The company's stock had a trading volume of 397,987 shares, compared to its average volume of 667,374. The firm has a market capitalization of $1.96 billion, a PE ratio of 11.03, a P/E/G ratio of 0.48 and a beta of 0.84. The stock has a fifty day moving average of $34.16 and a 200 day moving average of $33.92. Harmony Biosciences Holdings, Inc. has a twelve month low of $26.47 and a twelve month high of $41.61. The company has a quick ratio of 3.63, a current ratio of 3.84 and a debt-to-equity ratio of 0.20.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). Harmony Biosciences had a net margin of 23.44% and a return on equity of 26.34%. The company had revenue of $200.49 million during the quarter, compared to analyst estimates of $204.37 million. During the same period in the prior year, the business posted $1.05 EPS. Harmony Biosciences's revenue for the quarter was up 16.0% compared to the same quarter last year. On average, equities analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HRMY has been the topic of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $49.00 target price on shares of Harmony Biosciences in a research note on Tuesday, May 6th. The Goldman Sachs Group initiated coverage on Harmony Biosciences in a research note on Thursday, July 10th. They issued a "neutral" rating and a $33.00 price target for the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $55.00 target price (up from $54.00) on shares of Harmony Biosciences in a research report on Thursday, July 10th. Truist Financial assumed coverage on Harmony Biosciences in a research report on Monday, July 21st. They issued a "buy" rating and a $48.00 target price for the company. Finally, Oppenheimer started coverage on Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target on the stock. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Harmony Biosciences presently has a consensus rating of "Buy" and an average target price of $51.00.

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.