HealthInvest Partners AB Grows Stock Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

HealthInvest Partners AB raised its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 335.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 151,875 shares of the company’s stock after buying an additional 116,975 shares during the quarter. Harmony Biosciences accounts for about 2.9% of HealthInvest Partners AB’s investment portfolio, making the stock its 15th largest holding. HealthInvest Partners AB’s holdings in Harmony Biosciences were worth $6,075,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of HRMY. nVerses Capital LLC purchased a new stake in Harmony Biosciences in the second quarter worth about $36,000. CWM LLC grew its position in Harmony Biosciences by 111.7% during the third quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after buying an additional 775 shares during the period. Quarry LP bought a new stake in Harmony Biosciences during the second quarter valued at about $62,000. Headlands Technologies LLC increased its stake in shares of Harmony Biosciences by 1,608.1% in the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock worth $77,000 after purchasing an additional 2,396 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Harmony Biosciences by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after purchasing an additional 360 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HRMY. Mizuho increased their target price on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. UBS Group initiated coverage on shares of Harmony Biosciences in a research report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target for the company. Raymond James restated an “outperform” rating and issued a $40.00 target price on shares of Harmony Biosciences in a research note on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Finally, Oppenheimer reissued an “outperform” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Harmony Biosciences has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY traded up $0.22 during mid-day trading on Thursday, reaching $33.01. The company’s stock had a trading volume of 8,155 shares, compared to its average volume of 476,782. Harmony Biosciences Holdings, Inc. has a 1-year low of $27.97 and a 1-year high of $41.61. The stock has a market capitalization of $1.88 billion, a P/E ratio of 15.54, a P/E/G ratio of 0.60 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The stock has a 50-day moving average of $35.71 and a two-hundred day moving average of $33.53.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.64 by $0.15. The business had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. On average, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 30.80% of the company’s stock.

Harmony Biosciences 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.