Advisors Asset Management Inc. Takes Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Advisors Asset Management Inc. purchased a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMYGet Rating) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,254 shares of the company’s stock, valued at approximately $207,000.

Several other institutional investors have also recently added to or reduced their stakes in HRMY. Catalyst Capital Advisors LLC bought a new position in Harmony Biosciences during the 1st quarter worth approximately $27,000. KBC Group NV bought a new position in Harmony Biosciences during the second quarter worth $98,000. Acadian Asset Management LLC lifted its stake in Harmony Biosciences by 69.7% during the first quarter. Acadian Asset Management LLC now owns 3,367 shares of the company’s stock worth $163,000 after purchasing an additional 1,383 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in Harmony Biosciences by 1,065.5% in the first quarter. Ensign Peak Advisors Inc now owns 3,380 shares of the company’s stock worth $164,000 after purchasing an additional 3,090 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Harmony Biosciences during the first quarter valued at $185,000. 81.24% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Stock Performance

HRMY stock opened at $57.28 on Tuesday. The company has a 50-day simple moving average of $50.30 and a 200 day simple moving average of $48.26. The company has a market capitalization of $3.40 billion, a P/E ratio of 22.38 and a beta of 0.52. The company has a quick ratio of 3.52, a current ratio of 3.56 and a debt-to-equity ratio of 0.55. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $31.54 and a fifty-two week high of $61.55.

Harmony Biosciences (NASDAQ:HRMYGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.85. Harmony Biosciences had a net margin of 38.84% and a return on equity of 62.83%. The company had revenue of $117.21 million during the quarter, compared to analyst estimates of $113.11 million. Sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 2.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HRMY shares. TheStreet raised shares of Harmony Biosciences from a “c” rating to a “b-” rating in a report on Thursday, August 18th. Needham & Company LLC upped their target price on Harmony Biosciences from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 2nd. Jefferies Financial Group raised Harmony Biosciences from a “hold” rating to a “buy” rating and raised their price target for the stock from $57.00 to $61.00 in a report on Friday, October 14th. They noted that the move was a valuation call. Mizuho boosted their price objective on Harmony Biosciences from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, November 8th. Finally, Janney Montgomery Scott raised Harmony Biosciences from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $61.00 in a research report on Friday, October 14th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.50.

Insider Buying and Selling at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 12,173 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $44.68, for a total value of $543,889.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Jeffrey Dierks sold 12,173 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $44.68, for a total transaction of $543,889.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack Nielsen sold 58,667 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $58.70, for a total transaction of $3,443,752.90. Following the completion of the sale, the director now owns 2,954,794 shares in the company, valued at $173,446,407.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 522,573 shares of company stock valued at $30,593,896. 34.70% of the stock is owned by corporate insiders.

About Harmony Biosciences

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Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, develops and commercializes therapies for patients with rare neurological disorders in the United States. Its product, WAKIX is a medication for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.

See Also

Institutional Ownership by Quarter for Harmony Biosciences (NASDAQ:HRMY)

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