ARS Investment Partners LLC Invests $841,000 in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

ARS Investment Partners LLC purchased a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 24,440 shares of the company's stock, valued at approximately $841,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP grew its stake in Harmony Biosciences by 145.4% during the second quarter. Marshall Wace LLP now owns 305,612 shares of the company's stock valued at $9,220,000 after acquiring an additional 181,092 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Harmony Biosciences by 27.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company's stock valued at $26,416,000 after purchasing an additional 140,690 shares in the last quarter. HealthInvest Partners AB raised its position in shares of Harmony Biosciences by 335.2% in the third quarter. HealthInvest Partners AB now owns 151,875 shares of the company's stock worth $6,075,000 after buying an additional 116,975 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Harmony Biosciences by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company's stock valued at $28,871,000 after buying an additional 112,197 shares during the period. Finally, Millennium Management LLC grew its position in Harmony Biosciences by 51.6% during the second quarter. Millennium Management LLC now owns 307,420 shares of the company's stock worth $9,275,000 after buying an additional 104,691 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Trading Up 3.6 %

NASDAQ HRMY traded up $1.41 during trading on Tuesday, hitting $40.46. 844,300 shares of the company's stock traded hands, compared to its average volume of 559,483. The stock has a fifty day moving average of $34.46 and a two-hundred day moving average of $34.96. Harmony Biosciences Holdings, Inc. has a 12-month low of $28.14 and a 12-month high of $41.61. The firm has a market cap of $2.31 billion, a P/E ratio of 19.18, a PEG ratio of 0.54 and a beta of 0.78. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping 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%. Harmony Biosciences's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. As a group, sell-side analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

HRMY has been the subject of a number of research analyst reports. Oppenheimer reiterated an "outperform" rating and set a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Cantor Fitzgerald increased their price target on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $52.00 price objective on shares of Harmony Biosciences in a report on Monday, January 13th. HC Wainwright reiterated a "buy" rating and issued a $75.00 target price on shares of Harmony Biosciences in a research report on Thursday, January 16th. Finally, Raymond James restated an "outperform" rating and set a $40.00 price target on shares of Harmony Biosciences in a research report on Thursday, October 10th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $55.00.

Insider Activity at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 10,507 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total transaction of $388,864.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 30.80% of the stock is currently owned by company insiders.

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.