BNP Paribas Financial Markets Takes Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

BNP Paribas Financial Markets bought a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the 4th quarter, Holdings Channel.com reports. The fund bought 58,857 shares of the company’s stock, valued at approximately $2,025,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Swiss National Bank increased its stake in shares of Harmony Biosciences by 28.2% in the 4th quarter. Swiss National Bank now owns 78,200 shares of the company’s stock valued at $2,691,000 after buying an additional 17,200 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Harmony Biosciences by 50.6% in the 4th quarter. Teacher Retirement System of Texas now owns 11,801 shares of the company’s stock valued at $406,000 after buying an additional 3,964 shares during the period. Vanguard Group Inc. increased its stake in shares of Harmony Biosciences by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock valued at $162,883,000 after buying an additional 1,262,362 shares during the period. Barclays PLC increased its stake in shares of Harmony Biosciences by 110.9% in the 3rd quarter. Barclays PLC now owns 76,862 shares of the company’s stock valued at $3,074,000 after buying an additional 40,416 shares during the period. Finally, Amundi grew its stake in shares of Harmony Biosciences by 243.3% during the fourth quarter. Amundi now owns 18,402 shares of the company’s stock worth $635,000 after purchasing an additional 13,041 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Cantor Fitzgerald raised Harmony Biosciences to a “strong-buy” rating in a research note on Tuesday, May 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $49.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective for the company. UBS Group decreased their price objective on Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Finally, Mizuho lifted their price objective on Harmony Biosciences from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Harmony Biosciences currently has a consensus rating of “Buy” and an average price target of $52.78.

Harmony Biosciences Stock Up 2.5%

NASDAQ:HRMY opened at $35.07 on Friday. Harmony Biosciences Holdings, Inc. has a 1 year low of $26.47 and a 1 year high of $41.61. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 0.47 and a beta of 0.82. The stock has a 50-day moving average price of $31.45 and a two-hundred day moving average price of $33.96.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. The firm had revenue of $184.73 million during the quarter, compared to analysts’ expectations of $184.26 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 earnings per share. As a group, equities analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share 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.