Chase Investment Counsel Corp Purchases New Position in Harmony Biosciences Holdings, Inc. $HRMY

Chase Investment Counsel Corp acquired a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 50,000 shares of the company’s stock, valued at approximately $1,820,000.

Other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in Harmony Biosciences by 589.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after purchasing an additional 643 shares in the last quarter. Allworth Financial LP boosted its position in shares of Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after purchasing an additional 602 shares in the last quarter. Leonteq Securities AG bought a new position in shares of Harmony Biosciences during the fourth quarter worth $30,000. National Bank of Canada FI acquired a new position in shares of Harmony Biosciences in the 3rd quarter valued at $40,000. Finally, Clearstead Advisors LLC grew its holdings in shares of Harmony Biosciences by 145.9% in the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after buying an additional 699 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Needham & Company LLC upped their price objective on shares of Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Oppenheimer reissued an “outperform” rating and issued a $70.00 target price on shares of Harmony Biosciences in a research note on Tuesday, August 4th. Wall Street Zen raised Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Truist Financial increased their price target on Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $39.00 price target on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Harmony Biosciences presently has a consensus rating of “Hold” and a consensus target price of $45.50.

Harmony Biosciences Price Performance

HRMY stock opened at $38.12 on Monday. The stock has a 50-day moving average price of $35.89 and a two-hundred day moving average price of $32.67. Harmony Biosciences Holdings, Inc. has a 1 year low of $25.52 and a 1 year high of $40.87. The stock has a market cap of $2.22 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 0.35 and a beta of 0.96. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. The company had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The company’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 earnings per share. Equities analysts forecast 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.