Macquarie Group Ltd. lifted its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY – Free Report) by 18.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 828,669 shares of the company’s stock after buying an additional 126,575 shares during the period. Macquarie Group Ltd. owned about 1.38% of Harmony Biosciences worth $27,056,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of HRMY. BlackRock Inc. boosted its stake in shares of Harmony Biosciences by 20.9% during the 3rd quarter. BlackRock Inc. now owns 4,802,113 shares of the company’s stock worth $212,685,000 after buying an additional 829,234 shares during the last quarter. Polar Capital Holdings Plc acquired a new position in shares of Harmony Biosciences during the 1st quarter worth about $26,758,000. Balyasny Asset Management L.P. acquired a new position in shares of Harmony Biosciences during the 1st quarter worth about $15,336,000. International Biotechnology Trust PLC boosted its stake in shares of Harmony Biosciences by 115.7% during the 1st quarter. International Biotechnology Trust PLC now owns 570,500 shares of the company’s stock worth $18,621,000 after buying an additional 306,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Harmony Biosciences by 43.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 832,027 shares of the company’s stock valued at $27,166,000 after purchasing an additional 251,623 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Berenberg Bank assumed coverage on shares of Harmony Biosciences in a research note on Thursday, September 7th. They issued a “buy” rating and a $59.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $75.00 target price on shares of Harmony Biosciences in a research note on Tuesday, August 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $66.00 target price on shares of Harmony Biosciences in a research note on Tuesday, August 15th. Mizuho reiterated a “buy” rating and issued a $54.00 target price on shares of Harmony Biosciences in a research note on Tuesday, August 29th. Finally, Raymond James cut their target price on shares of Harmony Biosciences from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.78.
Harmony Biosciences Stock Down 1.3 %
Shares of HRMY opened at $37.52 on Friday. Harmony Biosciences Holdings, Inc. has a 12 month low of $29.81 and a 12 month high of $62.08. The firm’s 50 day moving average is $34.73 and its 200-day moving average is $35.56. The stock has a market capitalization of $2.25 billion, a PE ratio of 11.47, a P/E/G ratio of 0.55 and a beta of 0.43. The company has a current ratio of 4.90, a quick ratio of 4.84 and a debt-to-equity ratio of 0.37.
Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last announced its earnings results on Tuesday, August 1st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.06). Harmony Biosciences had a return on equity of 42.49% and a net margin of 40.16%. The business had revenue of $134.22 million for the quarter, compared to the consensus estimate of $139.79 million. Equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.4 EPS for the current year.
Harmony Biosciences 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. It 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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