venBio Partners LLC Buys Shares of 472,194 Harmony Biosciences Holdings, Inc. $HRMY

venBio Partners LLC bought a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 472,194 shares of the company’s stock, valued at approximately $17,192,584,000. Harmony Biosciences makes up approximately 3.3% of venBio Partners LLC’s holdings, making the stock its 6th biggest holding. venBio Partners LLC owned 0.81% of Harmony Biosciences as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Chase Investment Counsel Corp bought a new stake in Harmony Biosciences during the second quarter worth $1,820,000. CX Institutional boosted its holdings in shares of Harmony Biosciences by 19.7% in the 4th quarter. CX Institutional now owns 275,809 shares of the company’s stock valued at $10,321,000 after purchasing an additional 45,376 shares in the last quarter. Aurora Investment Counsel bought a new position in shares of Harmony Biosciences in the 2nd quarter valued at $2,372,000. Sanctuary Advisors LLC acquired a new position in shares of Harmony Biosciences during the 1st quarter worth $1,030,000. Finally, Convergence Investment Partners LLC acquired a new position in shares of Harmony Biosciences during the 4th quarter worth $961,000. Institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

HRMY has been the topic of several research analyst reports. Truist Financial raised their price objective on Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $39.00 price target on shares of Harmony Biosciences in a research note on Wednesday, August 5th. UBS Group reaffirmed a “neutral” rating and set a $37.00 price target on shares of Harmony Biosciences in a report on Wednesday, August 5th. Finally, Wolfe Research began coverage on shares of Harmony Biosciences in a report on Wednesday. They set an “outperform” rating and a $60.00 price target on the stock. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.11.

Harmony Biosciences Trading Up 0.5%

NASDAQ HRMY opened at $39.87 on Friday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 0.37 and a beta of 0.96. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $40.87. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average is $36.76 and its 200 day moving average is $32.78.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 20.06% and a net margin of 18.88%.The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.92 EPS. As a group, sell-side analysts expect that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.

About Harmony Biosciences

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.