China Universal Asset Management Co. Ltd. Increases Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

China Universal Asset Management Co. Ltd. lifted its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 63.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,931 shares of the company’s stock after purchasing an additional 4,259 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Harmony Biosciences were worth $437,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in HRMY. nVerses Capital LLC purchased a new position in Harmony Biosciences in the 2nd quarter worth approximately $36,000. CWM LLC grew its holdings in shares of Harmony Biosciences by 111.7% in the third quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after purchasing an additional 775 shares during the last quarter. Quarry LP purchased a new position in shares of Harmony Biosciences in the second quarter worth $62,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Harmony Biosciences by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after buying an additional 360 shares during the last quarter. Finally, Headlands Technologies LLC boosted its position in Harmony Biosciences by 1,608.1% during the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after buying an additional 2,396 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Shares of HRMY opened at $33.80 on Thursday. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $22.00 and a fifty-two week high of $41.61. The firm’s 50-day simple moving average is $36.50 and its two-hundred day simple moving average is $33.10. The stock has a market cap of $1.92 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 0.69 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The company had revenue of $186.00 million during the quarter, compared to analyst estimates of $184.07 million. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. Analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on HRMY. Raymond James reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Harmony Biosciences in a research note on Thursday, October 10th. Mizuho increased their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Oppenheimer reissued an “outperform” rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research note on Wednesday. UBS Group began coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target for the company. Finally, Cantor Fitzgerald boosted their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

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.