Millennium Management LLC Acquires 104,691 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Millennium Management LLC raised its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 51.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 307,420 shares of the company’s stock after buying an additional 104,691 shares during the period. Millennium Management LLC owned about 0.54% of Harmony Biosciences worth $9,275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cim LLC purchased a new stake in Harmony Biosciences during the 4th quarter valued at $368,000. Los Angeles Capital Management LLC grew its stake in shares of Harmony Biosciences by 4.5% in the first quarter. Los Angeles Capital Management LLC now owns 25,224 shares of the company’s stock worth $847,000 after purchasing an additional 1,076 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Harmony Biosciences by 1.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock valued at $1,184,000 after purchasing an additional 397 shares during the period. Hedeker Wealth LLC bought a new position in Harmony Biosciences during the 1st quarter valued at approximately $2,627,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Harmony Biosciences by 60.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,893 shares of the company’s stock worth $366,000 after buying an additional 4,116 shares during the period. 86.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HRMY. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research note on Wednesday, October 2nd. Citigroup began coverage on shares of Harmony Biosciences in a research report on Friday, June 21st. They issued a “buy” rating and a $48.00 target price for the company. Finally, UBS Group initiated coverage on shares of Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 target price on the stock. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Harmony Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $41.33.

Harmony Biosciences Trading Up 1.1 %

Shares of NASDAQ HRMY opened at $34.75 on Wednesday. The company has a market cap of $1.97 billion, a PE ratio of 15.04, a P/E/G ratio of 0.77 and a beta of 0.73. 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 firm’s 50 day moving average price is $36.11 and its 200-day moving average price is $32.72. Harmony Biosciences Holdings, Inc. has a 52-week low of $18.61 and a 52-week high of $40.60.

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