Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 265,639 shares of the company's stock after purchasing an additional 32,272 shares during the period. Bank of New York Mellon Corp owned approximately 0.47% of Harmony Biosciences worth $9,141,000 at the end of the most recent reporting period.

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

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Analysts Set New Price Targets

A number of research firms have recently weighed in on HRMY. HC Wainwright decreased their price target on shares of Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Mizuho dropped their target price on shares of Harmony Biosciences from $52.00 to $42.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price target on shares of Harmony Biosciences in a research report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price objective for the company. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $53.11.

Harmony Biosciences Stock Performance

Shares of HRMY stock traded up $1.60 during trading hours on Monday, reaching $34.32. The stock had a trading volume of 409,020 shares, compared to its average volume of 513,796. The firm has a market capitalization of $1.97 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The firm has a 50-day simple moving average of $36.40 and a 200-day simple moving average of $35.62. Harmony Biosciences Holdings, Inc. has a twelve month low of $28.14 and a twelve month high of $41.61. 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 announced its quarterly 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. The company had revenue of $201.30 million for the quarter, compared to analyst estimates of $201.25 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. Harmony Biosciences's revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 earnings per share. As a group, equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Insider Buying and Selling at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 10,507 shares of Harmony Biosciences stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $37.01, for a total transaction of $388,864.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the stock in a transaction dated 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. Insiders have sold 72,452 shares of company stock valued at $2,831,679 in the last quarter. Corporate insiders own 30.80% of the company's stock.

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.