Nan Fung Group Holdings Ltd Buys New Position in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Nan Fung Group Holdings Ltd bought 27,049 shares of Harmony Biosciences in the second quarter, making HRMY a 0.7% portfolio position; institutional investors collectively own 86.23% of the company.
• Analyst sentiment is mixed: four analysts rate HRMY a Buy, five rate it Hold, and one rates it Sell. The stock has an average rating of Hold and an average price target of $45.50.
• Harmony Biosciences reported quarterly EPS of $1.28, beating estimates of $0.96, while revenue rose 30.3% year over year to $261.28 million. HRMY opened at $38.50 and trades near its 12-month high of $40.87.

Nan Fung Group Holdings Ltd bought a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 27,049 shares of the company's stock, valued at approximately $984,854,000. Harmony Biosciences makes up 0.7% of Nan Fung Group Holdings Ltd's portfolio, making the stock its 18th largest holding.

A number of other large investors have also recently bought and sold shares of the company. Nebula Research & Development LLC raised its holdings in shares of Harmony Biosciences by 2.0% in the second quarter. Nebula Research & Development LLC now owns 17,403 shares of the company's stock valued at $550,000 after purchasing an additional 348 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Harmony Biosciences by 2.4% during the second quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company's stock worth $717,000 after purchasing an additional 532 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Harmony Biosciences by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,799 shares of the company's stock worth $105,000 after purchasing an additional 575 shares during the last quarter. Allworth Financial LP grew its position in Harmony Biosciences by 286.7% in the fourth quarter. Allworth Financial LP now owns 812 shares of the company's stock valued at $30,000 after purchasing an additional 602 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Harmony Biosciences by 30.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the company's stock valued at $100,000 after purchasing an additional 619 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Analyst Ratings Changes

HRMY has been the topic of several recent research reports. Truist Financial lifted their price target on shares of Harmony Biosciences from $29.00 to $34.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded shares of Harmony Biosciences from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 16th. Zacks Research cut Harmony Biosciences from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Needham & Company LLC lifted their target price on Harmony Biosciences from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, August 4th. Finally, Oppenheimer reiterated an "outperform" rating and set a $70.00 target price on shares of Harmony Biosciences in a report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Harmony Biosciences presently has an average rating of "Hold" and an average target price of $45.50.

Harmony Biosciences Price Performance

NASDAQ:HRMY opened at $38.50 on Tuesday. 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 12-month low of $25.52 and a 12-month high of $40.87. The stock's 50 day moving average price is $36.41 and its two-hundred day moving average price is $32.73. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 0.35 and a beta of 0.96.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.32. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The business had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. During the same period in the previous year, the firm earned $0.92 EPS. The firm's revenue was up 30.3% compared to the same quarter last year. On average, analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current year.

Harmony Biosciences Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company's mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company's flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.

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