Cornercap Investment Counsel Inc. Invests $566,000 in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Cornercap Investment Counsel Inc. acquired a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 17,515 shares of the company’s stock, valued at approximately $566,000.

Several other large investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Harmony Biosciences by 15.9% during the 2nd quarter. BlackRock Inc. now owns 5,750,478 shares of the company’s stock worth $202,359,000 after acquiring an additional 790,338 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Harmony Biosciences by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,684,152 shares of the company’s stock worth $120,730,000 after acquiring an additional 88,295 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Harmony Biosciences by 18.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,420,000 shares of the company’s stock worth $46,533,000 after acquiring an additional 220,000 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Harmony Biosciences by 534,795.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,224,910 shares of the company’s stock worth $39,565,000 after acquiring an additional 1,224,681 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Harmony Biosciences by 9.3% during the 2nd quarter. State Street Corp now owns 1,140,934 shares of the company’s stock worth $40,149,000 after acquiring an additional 97,337 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Insider Transactions at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 11,979 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $32.00, for a total transaction of $383,328.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 34.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America reiterated an “underperform” rating and set a $30.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, January 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $49.00 price target on shares of Harmony Biosciences in a research note on Friday, April 12th. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Harmony Biosciences in a research note on Tuesday, April 9th. The Goldman Sachs Group upped their price target on shares of Harmony Biosciences from $25.00 to $28.00 and gave the company a “sell” rating in a research note on Tuesday, January 9th. Finally, Mizuho cut their price target on shares of Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat, Harmony Biosciences has a consensus rating of “Moderate Buy” and an average price target of $40.63.

Harmony Biosciences Stock Up 0.9 %

NASDAQ:HRMY opened at $29.78 on Wednesday. The firm has a market capitalization of $1.69 billion, a P/E ratio of 14.05, a PEG ratio of 0.41 and a beta of 0.73. Harmony Biosciences Holdings, Inc. has a 1-year low of $18.61 and a 1-year high of $39.26. The company’s fifty day moving average price is $32.12 and its 200-day moving average price is $30.14. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.75 and a quick ratio of 2.72.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.29). The business had revenue of $168.40 million during the quarter, compared to analyst estimates of $168.90 million. Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The firm’s revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 EPS. As a group, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3 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.