Zurcher Kantonalbank Zurich Cantonalbank Buys 1,233 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 15.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,029 shares of the company’s stock after buying an additional 1,233 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Harmony Biosciences were worth $292,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its holdings in Harmony Biosciences by 95.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $50,000 after acquiring an additional 748 shares in the last quarter. Oakworth Capital Inc. purchased a new position in shares of Harmony Biosciences during the 3rd quarter valued at $150,000. ELCO Management Co. LLC bought a new position in Harmony Biosciences in the 3rd quarter worth $210,000. Raymond James & Associates purchased a new stake in Harmony Biosciences in the 3rd quarter worth $216,000. Finally, Versor Investments LP raised its holdings in Harmony Biosciences by 12.6% during the third quarter. Versor Investments LP now owns 7,811 shares of the company’s stock valued at $256,000 after acquiring an additional 871 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HRMY has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research note on Friday, April 12th. The Goldman Sachs Group lifted their price objective on shares of Harmony Biosciences from $25.00 to $28.00 and gave the company a “sell” rating in a research report on Tuesday, January 9th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a report on Tuesday, April 30th. Finally, Mizuho cut their target price on shares of Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.63.

Insider Activity

In other news, insider Jeffrey Dierks sold 11,979 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $32.00, for a total transaction of $383,328.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 30.80% of the company’s stock.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $31.57 on Monday. Harmony Biosciences Holdings, Inc. has a 52-week low of $18.61 and a 52-week high of $39.26. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 0.43 and a beta of 0.75. The firm’s fifty day moving average is $31.17 and its 200 day moving average is $30.18. The company has a quick ratio of 2.72, a current ratio of 3.11 and a debt-to-equity ratio of 0.34.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, April 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The firm had revenue of $154.62 million for the quarter, compared to analysts’ expectations of $154.10 million. Harmony Biosciences had a net margin of 22.30% and a return on equity of 28.26%. The business’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. Sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.53 EPS for the current fiscal year.

Harmony Biosciences Company Profile

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.