Ruffer LLP Takes $2.72 Million Position in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Ruffer LLP has acquired a new stake in Harmony Biosciences Holdings, Inc. worth approximately $2.72 million, representing 86,211 shares, which accounts for about 0.15% of the company's total stock.
• Several institutional investors have increased their holdings in Harmony Biosciences, with CX Institutional making the largest boost of 166.8% during the second quarter, now owning shares valued at $6.57 million.
• Analyst ratings for Harmony Biosciences are generally positive, with a consensus rating of "Buy" and an average target price of $50.20.

Ruffer LLP acquired a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 86,211 shares of the company's stock, valued at approximately $2,724,000. Ruffer LLP owned about 0.15% of Harmony Biosciences as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. CX Institutional boosted its stake in shares of Harmony Biosciences by 166.8% in the 2nd quarter. CX Institutional now owns 207,783 shares of the company's stock valued at $6,566,000 after purchasing an additional 129,916 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Harmony Biosciences by 21.5% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 61,700 shares of the company's stock worth $1,948,000 after acquiring an additional 10,900 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Harmony Biosciences by 6.1% during the second quarter. Exchange Traded Concepts LLC now owns 32,100 shares of the company's stock worth $1,014,000 after acquiring an additional 1,844 shares in the last quarter. Gallacher Capital Management LLC boosted its stake in Harmony Biosciences by 4.3% during the second quarter. Gallacher Capital Management LLC now owns 9,981 shares of the company's stock worth $315,000 after acquiring an additional 413 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Harmony Biosciences by 16.8% during the first quarter. Voya Investment Management LLC now owns 26,722 shares of the company's stock worth $887,000 after acquiring an additional 3,851 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HRMY shares. Oppenheimer started coverage on shares of Harmony Biosciences in a research note on Monday, June 2nd. They set an "outperform" rating and a $61.00 target price on the stock. Needham & Company LLC cut their target price on shares of Harmony Biosciences from $48.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $55.00 target price (up from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th. The Goldman Sachs Group assumed coverage on shares of Harmony Biosciences in a report on Thursday, July 10th. They set a "neutral" rating and a $33.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Harmony Biosciences from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Harmony Biosciences has a consensus rating of "Buy" and a consensus price target of $50.20.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $26.76 on Thursday. Harmony Biosciences Holdings, Inc. has a 52-week low of $26.47 and a 52-week high of $41.61. The company has a 50-day simple moving average of $35.26 and a 200 day simple moving average of $33.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.80 and a current ratio of 3.84. The company has a market capitalization of $1.54 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 0.38 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.10). Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The company had revenue of $200.49 million for the quarter, compared to analysts' expectations of $204.37 million. During the same quarter last year, the business posted $1.05 EPS. The business's quarterly revenue was up 16.0% on a year-over-year basis. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, research analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS 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.

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