EntryPoint Capital LLC Invests $1.10 Million in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

EntryPoint Capital LLC bought a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 32,084 shares of the company's stock, valued at approximately $1,104,000. Harmony Biosciences comprises about 0.5% of EntryPoint Capital LLC's investment portfolio, making the stock its 2nd largest holding. EntryPoint Capital LLC owned 0.06% of Harmony Biosciences as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company's stock valued at $31,000 after buying an additional 436 shares in the last quarter. Mendota Financial Group LLC boosted its position in shares of Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock valued at $33,000 after acquiring an additional 965 shares during the last quarter. KBC Group NV grew its holdings in shares of Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company's stock valued at $63,000 after purchasing an additional 819 shares during the period. Quantbot Technologies LP acquired a new stake in Harmony Biosciences during the third quarter worth about $74,000. Finally, PNC Financial Services Group Inc. raised its stake in Harmony Biosciences by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock worth $80,000 after purchasing an additional 519 shares during the period. Institutional investors and hedge funds own 86.23% of the company's stock.

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Harmony Biosciences Trading Down 0.5 %

HRMY traded down $0.16 during mid-day trading on Friday, hitting $33.19. 666,052 shares of the stock were exchanged, compared to its average volume of 553,054. The firm's fifty day moving average is $36.01 and its two-hundred day moving average is $35.48. Harmony Biosciences Holdings, Inc. has a 1-year low of $28.14 and a 1-year high of $41.61. The company has a market cap of $1.90 billion, a PE ratio of 15.73, a PEG ratio of 0.47 and a beta of 0.82. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $201.30 million for the quarter, compared to analysts' expectations of $201.25 million. During the same quarter in the prior year, the company earned $0.45 earnings per share. The business's quarterly revenue was up 19.5% on a year-over-year basis. Equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jeffrey M. Dayno sold 19,293 shares of Harmony Biosciences stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total value of $774,228.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey Dierks sold 1,629 shares of the company's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $38.02, for a total transaction of $61,934.58. The disclosure for this sale can be found here. Insiders sold a total of 72,452 shares of company stock worth $2,831,679 over the last 90 days. Corporate insiders own 30.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.