HealthInvest Partners AB Acquires 116,975 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

HealthInvest Partners AB raised its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 335.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 151,875 shares of the company’s stock after buying an additional 116,975 shares during the period. Harmony Biosciences accounts for about 2.9% of HealthInvest Partners AB’s portfolio, making the stock its 15th largest holding. HealthInvest Partners AB owned about 0.27% of Harmony Biosciences worth $6,075,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in Harmony Biosciences during the second quarter worth about $36,000. CWM LLC boosted its holdings in shares of Harmony Biosciences by 111.7% in the 3rd 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 last quarter. Quarry LP bought a new position in shares of Harmony Biosciences in the second quarter valued at $62,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Harmony Biosciences by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $80,000 after buying an additional 360 shares during the last quarter. Finally, Headlands Technologies LLC raised its position in Harmony Biosciences by 1,608.1% during the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock worth $77,000 after acquiring an additional 2,396 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HRMY shares. Oppenheimer reissued an “outperform” rating and issued a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Cantor Fitzgerald raised their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Raymond James reiterated an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Finally, Mizuho increased their target price on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company. According to MarketBeat, Harmony Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Harmony Biosciences Stock Performance

Shares of HRMY stock traded up $0.22 during trading on Thursday, hitting $33.01. The company’s stock had a trading volume of 8,155 shares, compared to its average volume of 476,782. The company has a market cap of $1.88 billion, a PE ratio of 15.54, a P/E/G ratio of 0.60 and a beta of 0.77. Harmony Biosciences Holdings, Inc. has a 52 week low of $27.97 and a 52 week high of $41.61. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $35.71 and a 200-day moving average of $33.53.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data 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 the consensus estimate of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.36 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jeffrey Dierks sold 21,496 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 30.80% of the stock is currently owned by insiders.

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.