The Manufacturers Life Insurance Company Grows Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

The Manufacturers Life Insurance Company lifted its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 12.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,385 shares of the company’s stock after acquiring an additional 2,144 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Harmony Biosciences were worth $667,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Aquatic Capital Management LLC purchased a new stake in shares of Harmony Biosciences in the 4th quarter worth about $383,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Harmony Biosciences in the 4th quarter worth about $396,000. Nebula Research & Development LLC purchased a new stake in shares of Harmony Biosciences in the 4th quarter worth about $639,000. Adage Capital Partners GP L.L.C. grew its position in shares of Harmony Biosciences by 66.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 500,000 shares of the company’s stock worth $17,205,000 after buying an additional 200,000 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Harmony Biosciences by 33.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,788 shares of the company’s stock valued at $681,000 after purchasing an additional 4,911 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on HRMY. Mizuho increased their price objective on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective on the stock. UBS Group cut their price objective on shares of Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Needham & Company LLC reissued a “buy” rating and set a $49.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald raised shares of Harmony Biosciences to a “strong-buy” rating in a research report on Tuesday. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $52.78.

Harmony Biosciences Price Performance

HRMY opened at $34.23 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The stock has a market capitalization of $1.97 billion, a P/E ratio of 16.22, a P/E/G ratio of 0.47 and a beta of 0.82. The company’s 50-day simple moving average is $31.42 and its two-hundred day simple moving average is $34.00. Harmony Biosciences Holdings, Inc. has a 52-week low of $26.47 and a 52-week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.19. The company had revenue of $184.73 million for the quarter, compared to the consensus estimate of $184.26 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 last year, the firm posted $0.67 earnings per share. As a group, analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS 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.