Evolve Private Wealth LLC Takes $522,000 Position in Harmony Biosciences Holdings, Inc. $HRMY

Evolve Private Wealth LLC bought a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 18,632 shares of the company’s stock, valued at approximately $522,000.

Several other institutional investors and hedge funds have also bought and sold shares of HRMY. EverSource Wealth Advisors LLC increased its stake 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 purchasing an additional 643 shares in the last quarter. Leonteq Securities AG bought a new position in shares of Harmony Biosciences during the 4th quarter worth about $30,000. Allworth Financial LP boosted its position in shares of Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after purchasing an additional 602 shares in the last quarter. Clearstead Advisors LLC grew 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 buying an additional 699 shares during the period. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Harmony Biosciences in the 4th quarter valued at about $47,000. 86.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HRMY shares. Truist Financial upped their price target on Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Wall Street Zen lowered Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. HC Wainwright reissued a “buy” rating on shares of Harmony Biosciences in a research note on Wednesday. Zacks Research upgraded Harmony Biosciences from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Finally, Weiss Ratings raised Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Harmony Biosciences has a consensus rating of “Hold” and an average price target of $40.89.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $34.13 on Friday. The firm has a 50-day moving average of $31.83 and a 200-day moving average of $32.95. The company has a market cap of $1.98 billion, a P/E ratio of 13.76, a P/E/G ratio of 0.24 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.58 and a quick ratio of 3.56. Harmony Biosciences Holdings, Inc. has a one year low of $25.52 and a one year high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The firm had revenue of $215.39 million for the quarter, compared to analysts’ expectations of $220.84 million. During the same quarter last year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.2 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.