Harmony Biosciences Holdings, Inc. $HRMY Holdings Raised by Legato Capital Management LLC

Legato Capital Management LLC increased its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 61.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,415 shares of the company’s stock after acquiring an additional 19,504 shares during the period. Legato Capital Management LLC owned approximately 0.09% of Harmony Biosciences worth $1,417,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its position in Harmony Biosciences by 4,185.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock worth $37,000 after buying an additional 1,130 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Harmony Biosciences by 338.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,511 shares of the company’s stock valued at $111,000 after buying an additional 2,711 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Harmony Biosciences during the 2nd quarter worth $120,000. Ameritas Investment Partners Inc. boosted its holdings in Harmony Biosciences by 12.0% in the second quarter. Ameritas Investment Partners Inc. now owns 4,466 shares of the company’s stock valued at $141,000 after acquiring an additional 479 shares during the last quarter. Finally, EMC Capital Management bought a new position in shares of Harmony Biosciences in the 2nd quarter valued at about $195,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Trading Down 2.2%

HRMY opened at $28.27 on Wednesday. The company has a fifty day moving average price of $35.61 and a two-hundred day moving average price of $33.93. Harmony Biosciences Holdings, Inc. has a 1-year low of $25.52 and a 1-year high of $40.87. The company has a current ratio of 3.60, a quick ratio of 3.58 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.64 billion, a P/E ratio of 10.43, a price-to-earnings-growth ratio of 0.39 and a beta of 0.88.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.46). The business had revenue of $243.78 million during the quarter, compared to the consensus estimate of $240.04 million. Harmony Biosciences had a net margin of 18.29% and a return on equity of 19.86%. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period last year, the business posted $0.85 earnings per share. Analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Analysts Set New Price Targets

HRMY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft downgraded Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research note on Monday, February 23rd. Zacks Research lowered Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Mizuho set a $50.00 target price on shares of Harmony Biosciences in a report on Thursday, February 19th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Harmony Biosciences in a report on Wednesday, February 25th. Finally, Truist Financial downgraded shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Harmony Biosciences currently has a consensus rating of “Hold” and an average price target of $42.67.

Insider Buying and Selling

In other news, CEO Jeffrey M. Dayno sold 25,933 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $40.11, for a total value of $1,040,172.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandip Kapadia sold 20,961 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $35.92, for a total value of $752,919.12. The disclosure for this sale is available in the SEC filing. Insiders sold 50,640 shares of company stock valued at $1,932,256 over the last 90 days. 23.60% of the stock is owned by company insiders.

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.