EMC Capital Management Buys New Position in Harmony Biosciences Holdings, Inc. $HRMY

EMC Capital Management purchased a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,174 shares of the company’s stock, valued at approximately $195,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Strs Ohio bought a new stake in Harmony Biosciences during the first quarter valued at about $587,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of Harmony Biosciences during the 2nd quarter valued at about $1,478,000. CX Institutional grew its stake in shares of Harmony Biosciences by 166.8% during the 2nd quarter. CX Institutional now owns 207,783 shares of the company’s stock valued at $6,566,000 after acquiring an additional 129,916 shares during the period. Woodline Partners LP purchased a new stake in Harmony Biosciences in the 1st quarter worth approximately $6,035,000. Finally, New Vernon Capital Holdings II LLC raised its stake in Harmony Biosciences by 3,219.0% during the 1st quarter. New Vernon Capital Holdings II LLC now owns 488,424 shares of the company’s stock worth $16,211,000 after acquiring an additional 473,708 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HRMY. Mizuho upped their price target on shares of Harmony Biosciences from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Needham & Company LLC dropped their target price on shares of Harmony Biosciences from $48.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft cut their price target on Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, September 25th. HC Wainwright lowered their price objective on Harmony Biosciences from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Finally, UBS Group dropped their price objective on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.50.

Harmony Biosciences Price Performance

Shares of Harmony Biosciences stock opened at $33.99 on Wednesday. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 0.44 and a beta of 0.85. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.72 and a current ratio of 3.75. The stock has a 50 day moving average price of $29.63 and a 200-day moving average price of $32.93. Harmony Biosciences Holdings, Inc. has a one year low of $25.52 and a one year high of $40.93.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%.The company had revenue of $239.46 million during the quarter, compared to the consensus estimate of $222.68 million. Equities analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

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.