OMERS ADMINISTRATION Corp Acquires New Holdings in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• OMERS Administration Corp acquired 35,090 Harmony Biosciences shares worth approximately $1.28 million, while institutional investors collectively own 86.23% of HRMY.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $47.11; recent targets range from $39 to $60.
• Harmony reported quarterly EPS of $1.28 versus the $0.96 estimate, while revenue rose 30.3% year over year to $261.28 million. Shares recently opened at $39.66, near their 12-month high of $40.87.

OMERS ADMINISTRATION Corp acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 35,090 shares of the company's stock, valued at approximately $1,278,000. OMERS ADMINISTRATION Corp owned approximately 0.06% of Harmony Biosciences as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HRMY. Chase Investment Counsel Corp purchased a new position in Harmony Biosciences during the 2nd quarter worth $1,820,000. CX Institutional raised its stake in Harmony Biosciences by 19.7% in the fourth quarter. CX Institutional now owns 275,809 shares of the company's stock valued at $10,321,000 after buying an additional 45,376 shares during the last quarter. Aurora Investment Counsel purchased a new stake in Harmony Biosciences in the second quarter valued at about $2,372,000. Sanctuary Advisors LLC purchased a new stake in Harmony Biosciences in the first quarter valued at about $1,030,000. Finally, Convergence Investment Partners LLC acquired a new stake in Harmony Biosciences in the fourth quarter worth about $961,000. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analyst Ratings Changes

HRMY has been the topic of several recent analyst reports. Mizuho upped their price objective on shares of Harmony Biosciences from $50.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $39.00 target price on shares of Harmony Biosciences in a research report on Wednesday, August 5th. HC Wainwright restated a "buy" rating and set a $55.00 price target on shares of Harmony Biosciences in a research note on Thursday, July 16th. Wolfe Research began coverage on shares of Harmony Biosciences in a report on Wednesday. They issued an "outperform" rating and a $60.00 price target for the company. Finally, Zacks Research cut shares of Harmony Biosciences from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $47.11.

Harmony Biosciences Price Performance

Shares of NASDAQ:HRMY opened at $39.66 on Thursday. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $40.87. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.31 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.36 and a beta of 0.96. The company's 50 day moving average is $36.63 and its 200 day moving average is $32.76.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $0.96 by $0.32. The business had revenue of $261.28 million during the quarter, compared to analysts' expectations of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The business's quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 EPS. On average, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.77 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.