Comerica Bank Raises Stock Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Comerica Bank boosted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMYGet Rating) by 15.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 22,669 shares of the company’s stock after acquiring an additional 3,075 shares during the period. Comerica Bank’s holdings in Harmony Biosciences were worth $1,168,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HRMY. Polar Capital Holdings Plc purchased a new stake in Harmony Biosciences in the 1st quarter valued at about $26,758,000. FMR LLC increased its stake in Harmony Biosciences by 10.8% during the second quarter. FMR LLC now owns 5,426,782 shares of the company’s stock worth $264,664,000 after purchasing an additional 529,600 shares during the period. Lisanti Capital Growth LLC purchased a new stake in Harmony Biosciences during the second quarter worth about $14,820,000. Macquarie Group Ltd. increased its stake in Harmony Biosciences by 55.5% during the second quarter. Macquarie Group Ltd. now owns 630,211 shares of the company’s stock worth $30,736,000 after purchasing an additional 224,843 shares during the period. Finally, Polaris Capital Management LLC increased its stake in Harmony Biosciences by 654.7% during the second quarter. Polaris Capital Management LLC now owns 233,193 shares of the company’s stock worth $56,241,000 after purchasing an additional 202,293 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HRMY shares. Jefferies Financial Group upgraded shares of Harmony Biosciences from a “hold” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $61.00 in a research note on Friday, October 14th. They noted that the move was a valuation call. Needham & Company LLC boosted their price target on shares of Harmony Biosciences from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 2nd. Raymond James boosted their price objective on Harmony Biosciences from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, November 3rd. Janney Montgomery Scott raised Harmony Biosciences from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $57.00 to $61.00 in a research report on Friday, October 14th. Finally, Piper Sandler boosted their price objective on Harmony Biosciences from $62.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 4th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.33.

Insider Activity at Harmony Biosciences

In related news, Director Andreas Wicki sold 164,676 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $58.81, for a total value of $9,684,595.56. Following the completion of the transaction, the director now directly owns 2,847,414 shares of the company’s stock, valued at $167,456,417.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Andreas Wicki sold 164,676 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $58.81, for a total value of $9,684,595.56. Following the completion of the transaction, the director now directly owns 2,847,414 shares of the company’s stock, valued at $167,456,417.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack Nielsen sold 9,847 shares of the stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $59.89, for a total value of $589,736.83. Following the completion of the sale, the director now directly owns 2,573,858 shares of the company’s stock, valued at $154,148,355.62. The disclosure for this sale can be found here. Insiders sold 817,330 shares of company stock valued at $48,409,344 over the last three months. 34.70% of the stock is owned by corporate insiders.

Harmony Biosciences Stock Performance

Shares of HRMY opened at $49.07 on Tuesday. The stock has a 50 day moving average price of $55.11 and a 200 day moving average price of $51.61. The company has a quick ratio of 3.52, a current ratio of 3.56 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 19.17 and a beta of 0.64. Harmony Biosciences Holdings, Inc. has a 52-week low of $31.54 and a 52-week high of $62.08.

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

Harmony Biosciences Profile

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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.

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

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