Wedge Capital Management L L P NC Takes Position in Harmony Biosciences Holdings, Inc. $HRMY

Wedge Capital Management L L P NC purchased a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 88,897 shares of the company’s stock, valued at approximately $3,327,000.

Several other institutional investors also recently added to or reduced their stakes in HRMY. Amundi boosted its holdings in shares of Harmony Biosciences by 115.6% in the first quarter. Amundi now owns 39,668 shares of the company’s stock valued at $1,229,000 after acquiring an additional 21,266 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Harmony Biosciences by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock valued at $752,000 after acquiring an additional 984 shares during the period. Empowered Funds LLC purchased a new stake in Harmony Biosciences in the 1st quarter valued at $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Harmony Biosciences by 53.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company’s stock worth $3,166,000 after purchasing an additional 33,058 shares during the period. Finally, Cetera Investment Advisers grew its position in Harmony Biosciences by 9.8% during the 2nd quarter. Cetera Investment Advisers now owns 8,404 shares of the company’s stock worth $266,000 after purchasing an additional 748 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $26.54 on Monday. The business’s fifty day moving average price is $32.20 and its 200 day moving average price is $32.83. The firm has a market capitalization of $1.54 billion, a PE ratio of 9.79, a P/E/G ratio of 0.36 and a beta of 0.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.60 and a quick ratio of 3.58. Harmony Biosciences Holdings, Inc. has a 1-year low of $25.52 and a 1-year high of $40.87.

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

Wall Street Analysts Forecast Growth

HRMY has been the subject of a number of research reports. Truist Financial cut shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Harmony Biosciences in a research report on Monday, December 29th. UBS Group cut their price target on Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Zacks Research lowered shares of Harmony Biosciences from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut shares of 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $42.67.

Insider Activity

In other Harmony Biosciences news, CFO Sandip Kapadia sold 20,961 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $35.92, for a total transaction of $752,919.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.60% of the stock is owned by corporate 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.