CIBC Private Wealth Group LLC Has $146,000 Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

CIBC Private Wealth Group LLC grew its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 66.4% in the 4th quarter, Holdings Channel reports. The firm owned 4,214 shares of the company’s stock after acquiring an additional 1,681 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Harmony Biosciences were worth $146,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after buying an additional 436 shares during the period. Mendota Financial Group LLC raised its position in shares of Harmony Biosciences by 24,125.0% in the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after acquiring an additional 965 shares in the last quarter. KBC Group NV raised its position in shares of Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after acquiring an additional 819 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Harmony Biosciences by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock valued at $80,000 after purchasing an additional 519 shares during the period. Finally, Avanza Fonder AB bought a new stake in shares of Harmony Biosciences during the 4th quarter valued at about $145,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Insider Activity

In related news, CFO Sandip Kapadia sold 25,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total value of $1,004,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey M. Dayno sold 19,293 shares of Harmony Biosciences stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total transaction of $774,228.09. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock worth $2,831,679 over the last 90 days. 30.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HRMY shares. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price target on the stock. HC Wainwright dropped their target price on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Mizuho raised their price target on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, March 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Harmony Biosciences in a research note on Tuesday, February 25th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $53.33.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $28.40 on Tuesday. 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 firm has a fifty day simple moving average of $35.10 and a two-hundred day simple moving average of $35.15. Harmony Biosciences Holdings, Inc. has a 12 month low of $27.33 and a 12 month high of $41.61. The firm has a market capitalization of $1.63 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $201.30 million for the quarter, compared to analyst estimates of $201.25 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 EPS. Analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Harmony Biosciences Profile

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.