Sanctuary Advisors LLC Invests $1.03 Million in Harmony Biosciences Holdings, Inc. $HRMY

Sanctuary Advisors LLC bought a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 36,778 shares of the company’s stock, valued at approximately $1,030,000. Sanctuary Advisors LLC owned 0.06% of Harmony Biosciences at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. SG Americas Securities LLC grew its position in Harmony Biosciences by 109.9% during the 1st quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after purchasing an additional 1,056,507 shares during the last quarter. Armistice Capital LLC acquired a new position in Harmony Biosciences in the fourth quarter valued at $18,710,000. AQR Capital Management LLC raised its holdings in shares of Harmony Biosciences by 128.9% in the fourth quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock valued at $30,456,000 after buying an additional 458,321 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Harmony Biosciences by 42.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock valued at $35,701,000 after buying an additional 388,472 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of Harmony Biosciences by 213.3% during the third quarter. UBS Group AG now owns 503,081 shares of the company’s stock worth $13,865,000 after buying an additional 342,505 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $55.00 price target on shares of Harmony Biosciences in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Tuesday, June 30th. Weiss Ratings upgraded Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Zacks Research raised Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, Truist Financial upped their price target on Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Harmony Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Harmony Biosciences Trading Down 1.3%

Shares of Harmony Biosciences stock opened at $35.32 on Friday. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $40.87. The company has a quick ratio of 3.56, a current ratio of 3.58 and a debt-to-equity ratio of 0.15. The company’s 50-day simple moving average is $33.95 and its 200-day simple moving average is $32.63. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 0.33 and a beta of 0.94.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.21). The firm had revenue of $215.39 million for the quarter, compared to analysts’ expectations of $220.84 million. Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.3 earnings per share for the current 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.