Harmony Biosciences Holdings, Inc. $HRMY Stock: Profund Advisors LLC Boosts Stake

Profund Advisors LLC grew its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 311.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 39,094 shares of the company’s stock after buying an additional 29,599 shares during the period. Profund Advisors LLC owned approximately 0.07% of Harmony Biosciences worth $1,535,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in shares of Harmony Biosciences by 166.7% in the third quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock valued at $32,000 after buying an additional 510 shares during the period. Nykredit A S bought a new position in Harmony Biosciences during the second quarter valued at about $33,000. Signaturefd LLC increased its stake in Harmony Biosciences by 200.0% during the third quarter. Signaturefd LLC now owns 1,686 shares of the company’s stock valued at $66,000 after acquiring an additional 1,124 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Harmony Biosciences in the 2nd quarter valued at approximately $65,000. Finally, Allworth Financial LP acquired a new position in Harmony Biosciences in the 2nd quarter valued at approximately $71,000. Institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

HRMY has been the subject of a number of research reports. Zacks Research upgraded Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. HC Wainwright restated a “buy” rating and set a $55.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, October 13th. Truist Financial upped their target price on Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. WBB Securities upgraded Harmony Biosciences to a “hold” rating in a research note on Friday, October 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Harmony Biosciences in a research report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Insider Activity

In other Harmony Biosciences news, insider Kumar Budur sold 35,852 shares of the business’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $43.05, for a total value of $1,543,428.60. Following the transaction, the insider owned 13,115 shares of the company’s stock, valued at approximately $564,600.75. The trade was a 73.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 72,406 shares of company stock valued at $3,108,520 in the last three months. Insiders own 11.00% of the company’s stock.

Harmony Biosciences Stock Down 2.2%

Shares of HRMY opened at $37.91 on Tuesday. 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 company has a 50-day moving average price of $39.76 and a two-hundred day moving average price of $34.74. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 0.31 and a beta of 1.01. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.90 and a 12 month high of $43.49.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%. The company had revenue of $261.28 million during the quarter, compared to analysts’ expectations of $250.77 million. During the same period last year, the business earned $0.92 earnings per share. The business’s revenue was up 30.3% on a year-over-year basis. Equities analysts predict that Harmony Biosciences Holdings, Inc. will post 3.73 EPS for the current fiscal year.

Harmony Biosciences Profile

Harmony Biosciences Holdings, Inc is a commercial-stage biopharmaceutical company focused on developing and providing therapies for patients with rare neurological disorders. The company’s activities center on conditions involving sleep-wake regulation and other central nervous system disorders where treatment options may be limited.

Harmony’s principal product is WAKIX (pitolisant), an oral, non-scheduled treatment that acts as a histamine-3 receptor antagonist/inverse agonist. In the United States, WAKIX is approved for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy and for excessive daytime sleepiness in pediatric patients aged 6 and older with narcolepsy.