Alberta Investment Management Corp Boosts Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Alberta Investment Management Corp lifted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 44.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,600 shares of the company's stock after buying an additional 11,800 shares during the quarter. Alberta Investment Management Corp owned approximately 0.07% of Harmony Biosciences worth $1,328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in Harmony Biosciences by 18.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company's stock worth $78,452,000 after purchasing an additional 351,582 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Harmony Biosciences by 27.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company's stock valued at $26,416,000 after buying an additional 140,690 shares during the period. JPMorgan Chase & Co. increased its holdings in Harmony Biosciences by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company's stock valued at $9,217,000 after buying an additional 93,622 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Harmony Biosciences by 28.4% in the fourth quarter. Principal Financial Group Inc. now owns 208,663 shares of the company's stock worth $7,180,000 after acquiring an additional 46,194 shares during the period. Finally, Citigroup Inc. boosted its stake in shares of Harmony Biosciences by 9.8% during the 3rd quarter. Citigroup Inc. now owns 177,843 shares of the company's stock worth $7,114,000 after acquiring an additional 15,859 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HRMY. Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Harmony Biosciences in a research note on Tuesday. Cantor Fitzgerald upped their target price on Harmony Biosciences from $51.00 to $58.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They set a "buy" rating and a $55.00 target price on the stock. Oppenheimer reissued an "outperform" rating and issued a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Finally, HC Wainwright reiterated a "buy" rating and issued a $75.00 price objective on shares of Harmony Biosciences in a report on Wednesday, February 19th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $53.67.

Insider Transactions at Harmony Biosciences

In related news, CFO Sandip Kapadia sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total transaction of $1,004,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is currently owned by company insiders.

Harmony Biosciences Trading Up 3.5 %

HRMY traded up $1.20 during mid-day trading on Tuesday, hitting $35.38. 438,273 shares of the stock were exchanged, compared to its average volume of 581,716. The company has a market cap of $2.02 billion, a PE ratio of 16.76, a PEG ratio of 0.47 and a beta of 0.80. 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 firm's fifty day moving average is $36.59 and its two-hundred day moving average is $35.81. Harmony Biosciences Holdings, Inc. has a 1-year low of $28.14 and a 1-year high of $41.61.

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.