Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 18.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,588 shares of the company’s stock after purchasing an additional 16,537 shares during the quarter. Rhumbline Advisers’ holdings in Harmony Biosciences were worth $3,736,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Pacer Advisors Inc. boosted its position in Harmony Biosciences by 18.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock worth $78,452,000 after purchasing an additional 351,582 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Harmony Biosciences by 27.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock valued at $26,416,000 after acquiring an additional 140,690 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Harmony Biosciences by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock worth $9,217,000 after buying an additional 93,622 shares in the last quarter. Citigroup Inc. lifted its position in Harmony Biosciences by 9.8% during the third quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock worth $7,114,000 after buying an additional 15,859 shares in the last quarter. Finally, HealthInvest Partners AB lifted its position in Harmony Biosciences by 335.2% during the third quarter. HealthInvest Partners AB now owns 151,875 shares of the company’s stock worth $6,075,000 after buying an additional 116,975 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Jeffrey Dierks sold 10,507 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total transaction of $388,864.07. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,452 shares of company stock worth $2,831,679. Company insiders own 30.80% of the company’s stock.

Harmony Biosciences Stock Up 3.4 %

Harmony Biosciences stock opened at $33.85 on Friday. The company has a market capitalization of $1.93 billion, a P/E ratio of 16.04, a PEG ratio of 0.47 and a beta of 0.80. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $28.14 and a fifty-two week high of $41.61. The stock has a 50-day simple moving average of $36.64 and a 200-day simple moving average of $35.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm had revenue of $201.30 million for the quarter, compared to analysts’ expectations of $201.25 million. During the same quarter in the previous year, the firm posted $0.45 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HRMY shares. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday. HC Wainwright dropped their price objective on Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday. Mizuho dropped their price objective on Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price objective for the company. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $53.11.

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.