Ruffer LLP Purchases Shares of 40,993 Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Ruffer LLP initiated a new stake in Harmony Biosciences, purchasing 40,993 shares worth about $1.54 million (roughly a 0.07% ownership) in the fourth quarter.
• Harmony reported a quarterly EPS miss of $0.38 versus $0.84 expected, while revenue beat at $243.78 million (up 21.1% year‑over‑year).
• Analyst sentiment is mixed with a consensus "Hold" and a $42.67 average target, while institutional ownership is high at 86.23% and several large funds materially increased their stakes.

Ruffer LLP purchased a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 40,993 shares of the company's stock, valued at approximately $1,536,000. Ruffer LLP owned approximately 0.07% of Harmony Biosciences as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in HRMY. SG Americas Securities LLC raised its holdings in Harmony Biosciences by 4,102.4% in the 4th quarter. SG Americas Securities LLC now owns 961,667 shares of the company's stock valued at $35,986,000 after acquiring an additional 938,783 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Harmony Biosciences by 42.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company's stock valued at $35,701,000 after acquiring an additional 388,472 shares in the last quarter. UBS Group AG raised its holdings in Harmony Biosciences by 213.3% in the 3rd quarter. UBS Group AG now owns 503,081 shares of the company's stock valued at $13,865,000 after acquiring an additional 342,505 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Harmony Biosciences by 677.5% in the 2nd quarter. BNP Paribas Financial Markets now owns 307,165 shares of the company's stock valued at $9,706,000 after acquiring an additional 267,658 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Harmony Biosciences by 598.2% in the 3rd quarter. Millennium Management LLC now owns 204,510 shares of the company's stock valued at $5,636,000 after acquiring an additional 175,221 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HRMY. Mizuho set a $50.00 target price on Harmony Biosciences in a report on Thursday, February 19th. HC Wainwright reissued a "buy" rating and issued a $55.00 target price on shares of Harmony Biosciences in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft cut Harmony Biosciences from a "buy" rating to a "hold" rating and set a $31.00 target price for the company. in a report on Monday, February 23rd. Needham & Company LLC dropped their target price on Harmony Biosciences from $46.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Harmony Biosciences in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $42.67.

Insider Buying and Selling

In related news, CFO Sandip Kapadia sold 3,746 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $37.15, for a total transaction of $139,163.90. Following the sale, the chief financial officer directly owned 24,521 shares in the company, valued at $910,955.15. This represents a 13.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.00% of the stock is currently owned by company insiders.

Harmony Biosciences Trading Down 0.5%

Shares of HRMY opened at $31.97 on Thursday. Harmony Biosciences Holdings, Inc. has a 1 year low of $25.52 and a 1 year high of $40.87. The company has a current ratio of 3.60, a quick ratio of 3.58 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $29.30 and a 200-day simple moving average of $32.68. The stock has a market cap of $1.85 billion, a PE ratio of 11.80, a PEG ratio of 0.44 and a beta of 0.89.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.84 by ($0.46). The business had revenue of $243.78 million for the quarter, compared to the consensus estimate of $240.04 million. Harmony Biosciences had a return on equity of 19.86% and a net margin of 18.29%.The firm's revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the company earned $0.85 earnings per share. On average, sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 3.33 EPS for the current fiscal 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.

Want to see what other hedge funds are holding HRMY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report).

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.