Armistice Capital LLC Makes New Investment in Harmony Biosciences Holdings, Inc. $HRMY

Armistice Capital LLC purchased a new stake 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 (SEC). The fund purchased 500,000 shares of the company’s stock, valued at approximately $18,710,000. Armistice Capital LLC owned 0.87% of Harmony Biosciences at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in HRMY. SG Americas Securities LLC grew its position in Harmony Biosciences by 4,102.4% during the 4th quarter. SG Americas Securities LLC now owns 961,667 shares of the company’s stock worth $35,986,000 after purchasing an additional 938,783 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Harmony Biosciences by 128.9% in the fourth quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock valued at $30,456,000 after purchasing an additional 458,321 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Harmony Biosciences by 42.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock valued at $35,701,000 after purchasing an additional 388,472 shares in the last quarter. UBS Group AG boosted its position in shares of Harmony Biosciences by 213.3% in the third quarter. UBS Group AG now owns 503,081 shares of the company’s stock worth $13,865,000 after buying an additional 342,505 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of Harmony Biosciences by 677.5% during the second quarter. BNP Paribas Financial Markets now owns 307,165 shares of the company’s stock valued at $9,706,000 after buying an additional 267,658 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HRMY shares. Wall Street Zen downgraded Harmony Biosciences from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Bank of America lowered their target price on Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 25th. Mizuho set a $50.00 target price on Harmony Biosciences in a report on Thursday, February 19th. Zacks Research raised shares of Harmony Biosciences from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Monday, February 23rd. Four equities research 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. Based on data from MarketBeat, Harmony Biosciences currently has an average rating of “Hold” and a consensus target price of $40.89.

Harmony Biosciences Price Performance

NASDAQ HRMY opened at $33.77 on Thursday. The company has a quick ratio of 3.56, a current ratio of 3.58 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.95 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 0.24 and a beta of 0.96. The company has a 50 day moving average price of $31.23 and a two-hundred day moving average price of $33.09. Harmony Biosciences Holdings, Inc. has a 12-month low of $25.52 and a 12-month high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results 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 return on equity of 17.19% and a net margin of 16.20%.The business had revenue of $215.39 million for the quarter, compared to analyst estimates of $220.84 million. During the same quarter last year, the company earned $0.78 EPS. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, equities analysts predict that Harmony Biosciences Holdings, Inc. will post 3.2 earnings per share for the current fiscal year.

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.