Profund Advisors LLC Purchases 758 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Profund Advisors LLC raised its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 11.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,557 shares of the company’s stock after buying an additional 758 shares during the period. Profund Advisors LLC’s holdings in Harmony Biosciences were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in HRMY. Hedeker Wealth LLC bought a new stake in Harmony Biosciences during the 1st quarter worth approximately $2,627,000. LSV Asset Management raised its position in Harmony Biosciences by 346.5% in the 1st quarter. LSV Asset Management now owns 335,146 shares of the company’s stock valued at $11,254,000 after buying an additional 260,093 shares during the last quarter. Franklin Resources Inc. bought a new position in Harmony Biosciences during the 4th quarter valued at $876,000. Rice Hall James & Associates LLC boosted its holdings in Harmony Biosciences by 42.1% during the 2nd quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company’s stock worth $2,429,000 after acquiring an additional 23,867 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Harmony Biosciences by 54.1% in the 2nd quarter. Victory Capital Management Inc. now owns 84,964 shares of the company’s stock worth $2,563,000 after acquiring an additional 29,816 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HRMY has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Tuesday, September 24th. UBS Group started coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 target price on the stock. Finally, Citigroup began coverage on shares of Harmony Biosciences in a report on Friday, June 21st. They set a “buy” rating and a $48.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.33.

Harmony Biosciences Trading Down 1.7 %

Shares of Harmony Biosciences stock opened at $39.13 on Friday. The stock’s 50-day simple moving average is $35.73 and its 200 day simple moving average is $32.51. Harmony Biosciences Holdings, Inc. has a 52-week low of $18.61 and a 52-week high of $40.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13. The stock has a market capitalization of $2.22 billion, a P/E ratio of 16.94, a P/E/G ratio of 0.77 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.24. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The company had revenue of $172.80 million during the quarter, compared to analysts’ expectations of $172.53 million. During the same period in the previous year, the business earned $0.56 earnings per share. The firm’s quarterly revenue was up 28.8% compared to the same quarter last year. As a group, research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.19 EPS for the current year.

About Harmony Biosciences

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.