American Century Companies Inc. Raises Stock Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

American Century Companies Inc. grew its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 28.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,102,604 shares of the company's stock after purchasing an additional 246,140 shares during the quarter. American Century Companies Inc. owned approximately 1.93% of Harmony Biosciences worth $37,941,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in HRMY. Pacer Advisors Inc. grew its stake in Harmony Biosciences by 18.2% during the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company's stock worth $78,452,000 after buying an additional 351,582 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Harmony Biosciences by 27.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 472,028 shares of the company's stock valued at $16,242,000 after acquiring an additional 100,586 shares during the period. Capital Management Corp VA grew its position in shares of Harmony Biosciences by 43.5% during the fourth quarter. Capital Management Corp VA now owns 340,960 shares of the company's stock worth $11,732,000 after acquiring an additional 103,308 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Harmony Biosciences by 13.8% in the 4th quarter. Bank of New York Mellon Corp now owns 265,639 shares of the company's stock valued at $9,141,000 after acquiring an additional 32,272 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Harmony Biosciences by 68.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company's stock valued at $9,217,000 after acquiring an additional 93,622 shares during the period. Institutional investors and hedge funds own 86.23% of the company's stock.

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Analysts Set New Price Targets

Several research analysts have issued reports on the stock. HC Wainwright lowered their price objective on shares of Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, February 25th. Finally, Mizuho lifted their target price on Harmony Biosciences from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Tuesday, March 18th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $53.33.

Insiders Place Their Bets

In other Harmony Biosciences news, CFO Sandip Kapadia sold 25,000 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total transaction of $1,004,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Dierks sold 1,629 shares of Harmony Biosciences stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $38.02, for a total value of $61,934.58. The disclosure for this sale can be found here. Insiders have sold a total of 72,452 shares of company stock valued at $2,831,679 over the last quarter. Company insiders own 30.80% of the company's stock.

Harmony Biosciences Price Performance

Shares of NASDAQ:HRMY traded down $0.77 on Tuesday, hitting $32.42. The company had a trading volume of 581,846 shares, compared to its average volume of 554,232. 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 company has a market cap of $1.86 billion, a PE ratio of 15.36, a PEG ratio of 0.47 and a beta of 0.82. Harmony Biosciences Holdings, Inc. has a 52-week low of $28.14 and a 52-week high of $41.61. The business has a 50 day moving average of $35.74 and a 200 day moving average of $35.39.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm had revenue of $201.30 million during the quarter, compared to analyst estimates of $201.25 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The business's quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

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.