PDT Partners LLC Invests $977,000 in Harmony Biosciences Holdings, Inc. $HRMY

PDT Partners LLC purchased a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,835 shares of the company’s stock, valued at approximately $977,000.

Several other institutional investors have also made changes to their positions in the stock. Nebula Research & Development LLC grew its position in Harmony Biosciences by 2.0% during the second quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock worth $550,000 after buying an additional 348 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Harmony Biosciences by 2.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company’s stock valued at $717,000 after acquiring an additional 532 shares in the last quarter. Allworth Financial LP raised its holdings in Harmony Biosciences by 286.7% in the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after acquiring an additional 602 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Harmony Biosciences by 30.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the company’s stock valued at $100,000 after acquiring an additional 619 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after acquiring an additional 643 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Trading Up 0.5%

Shares of HRMY opened at $39.87 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $40.87. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 0.37 and a beta of 0.96. The business’s fifty day moving average is $36.76 and its 200-day moving average is $32.78.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.32. The business had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.Harmony Biosciences’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 EPS. Equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on HRMY shares. Truist Financial raised their price target on Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a research report on Wednesday, August 5th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Harmony Biosciences in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $39.00 price objective on shares of Harmony Biosciences in a research note on Wednesday, August 5th. UBS Group reissued a “neutral” rating and issued a $37.00 target price on shares of Harmony Biosciences in a report on Wednesday, August 5th. Finally, Mizuho boosted their target price on shares of Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Harmony Biosciences has a consensus rating of “Hold” and a consensus target price of $47.11.

Harmony Biosciences Profile

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.