Intech Investment Management LLC Buys 5,931 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Intech Investment Management LLC increased its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 32.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,148 shares of the company’s stock after buying an additional 5,931 shares during the period. Intech Investment Management LLC’s holdings in Harmony Biosciences were worth $763,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in HRMY. Cetera Investment Advisers boosted its holdings in Harmony Biosciences by 9.8% in the second quarter. Cetera Investment Advisers now owns 8,404 shares of the company’s stock worth $266,000 after acquiring an additional 748 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Harmony Biosciences by 8.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,878 shares of the company’s stock worth $312,000 after purchasing an additional 734 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Harmony Biosciences by 29.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,201 shares of the company’s stock worth $322,000 after purchasing an additional 2,309 shares in the last quarter. Geode Capital Management LLC grew its position in Harmony Biosciences by 9.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,054,348 shares of the company’s stock valued at $33,321,000 after purchasing an additional 88,598 shares during the last quarter. Finally, Boston Partners bought a new stake in Harmony Biosciences during the 2nd quarter valued at about $19,398,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. Oppenheimer reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of Harmony Biosciences in a research report on Monday. Wall Street Zen downgraded Harmony Biosciences from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Harmony Biosciences in a research note on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price target on shares of Harmony Biosciences in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.75.

Harmony Biosciences Price Performance

Shares of HRMY opened at $35.56 on Thursday. The firm has a fifty day simple moving average of $29.86 and a two-hundred day simple moving average of $33.01. The firm has a market cap of $2.05 billion, a PE ratio of 11.18, a P/E/G ratio of 0.46 and a beta of 0.85. The company has a current ratio of 3.75, a quick ratio of 3.72 and a debt-to-equity ratio of 0.18. Harmony Biosciences Holdings, Inc. has a 1-year low of $25.52 and a 1-year high of $40.93.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The firm had revenue of $239.46 million during the quarter, compared to analysts’ expectations of $222.68 million. Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%. On average, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 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. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.