Jupiter Topco LLC Takes Position in Harmony Biosciences Holdings, Inc. $HRMY

Jupiter Topco LLC acquired a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 102,747 shares of the company’s stock, valued at approximately $3,741,000. Jupiter Topco LLC owned about 0.18% of Harmony Biosciences at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its holdings in Harmony Biosciences by 589.9% in the fourth 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 last quarter. Allworth Financial LP lifted its position in shares of Harmony Biosciences by 286.7% in the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after purchasing an additional 602 shares during the period. Leonteq Securities AG acquired a new position in shares of Harmony Biosciences in the 4th quarter worth approximately $30,000. National Bank of Canada FI bought a new stake in shares of Harmony Biosciences in the 3rd quarter valued at $40,000. Finally, Clearstead Advisors LLC boosted its stake in shares of Harmony Biosciences by 145.9% in the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after purchasing an additional 699 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Wolfe Research started coverage on Harmony Biosciences in a report on Wednesday, August 26th. They set an “outperform” rating and a $60.00 price target for the company. Wall Street Zen raised Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Weiss Ratings raised Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 17th. Finally, Oppenheimer restated an “outperform” rating and set a $70.00 target price on shares of Harmony Biosciences in a research report on Tuesday, August 4th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $47.11.

Harmony Biosciences Trading Up 4.7%

NASDAQ:HRMY opened at $41.25 on Wednesday. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.52 and a 12 month high of $41.49. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.36 and a beta of 0.93. The firm has a fifty day simple moving average of $37.14 and a two-hundred day simple moving average of $32.84.

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