Allspring Global Investments Holdings LLC Purchases 155,494 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Allspring Global Investments Holdings LLC lifted its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 750.3% during the 1st quarter, Holdings Channel reports. The firm owned 176,219 shares of the company’s stock after purchasing an additional 155,494 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Harmony Biosciences were worth $4,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Illinois Municipal Retirement Fund lifted its holdings in Harmony Biosciences by 3.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 20,020 shares of the company’s stock valued at $561,000 after purchasing an additional 727 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Harmony Biosciences during the 1st quarter worth $1,030,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of Harmony Biosciences by 31.0% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,115 shares of the company’s stock valued at $255,000 after acquiring an additional 2,155 shares during the period. Illumine Investment Management LLC boosted its position in shares of Harmony Biosciences by 4.4% in the first quarter. Illumine Investment Management LLC now owns 24,277 shares of the company’s stock valued at $680,000 after acquiring an additional 1,032 shares during the period. Finally, Principal Financial Group Inc. increased its position in Harmony Biosciences by 2.4% during the first quarter. Principal Financial Group Inc. now owns 258,684 shares of the company’s stock worth $7,246,000 after acquiring an additional 6,109 shares during the period. 86.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HRMY shares. Zacks Research raised shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a research note on Thursday, July 16th. Weiss Ratings raised Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Tuesday, June 30th. Finally, Truist Financial upped their target price on Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Harmony Biosciences Stock Down 1.3%

Shares of NASDAQ HRMY opened at $35.32 on Friday. The stock has a 50-day moving average price of $33.95 and a two-hundred day moving average price of $32.63. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.52 and a 12 month high of $40.87. The company has a current ratio of 3.58, a quick ratio of 3.56 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 0.33 and a beta of 0.94.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.21). Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The company had revenue of $215.39 million during the quarter, compared to the consensus estimate of $220.84 million. During the same period in the previous year, the company earned $0.78 EPS. Harmony Biosciences’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.3 earnings per share for the current fiscal year.

Harmony Biosciences Company 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.