JPMorgan Chase & Co. Purchases 93,622 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

JPMorgan Chase & Co. raised its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 68.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 230,428 shares of the company's stock after buying an additional 93,622 shares during the period. JPMorgan Chase & Co. owned about 0.40% of Harmony Biosciences worth $9,217,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC grew its position in Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company's stock worth $59,000 after purchasing an additional 775 shares in the last quarter. Quarry LP purchased a new stake in shares of Harmony Biosciences during the second quarter valued at approximately $62,000. Quantbot Technologies LP bought a new stake in Harmony Biosciences during the third quarter worth $74,000. Headlands Technologies LLC boosted its position in Harmony Biosciences by 1,608.1% in the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company's stock worth $77,000 after purchasing an additional 2,396 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Harmony Biosciences by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock valued at $80,000 after purchasing an additional 360 shares during the period. 86.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 30.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HRMY. HC Wainwright began coverage on shares of Harmony Biosciences in a report on Tuesday, December 17th. They issued a "buy" rating and a $75.00 price target on the stock. Oppenheimer reissued an "outperform" rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Mizuho lifted their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. Raymond James reissued an "outperform" rating and set a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. Finally, Cantor Fitzgerald boosted their target price on Harmony Biosciences from $51.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $55.00.

Harmony Biosciences Price Performance

NASDAQ HRMY traded down $0.03 during trading hours on Tuesday, hitting $36.42. The company had a trading volume of 429,559 shares, compared to its average volume of 461,507. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 0.60 and a beta of 0.78. Harmony Biosciences Holdings, Inc. has a 52 week low of $28.14 and a 52 week high of $41.61. The firm has a 50 day simple moving average of $34.21 and a 200 day simple moving average of $34.74.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.15. The firm had revenue of $186.00 million during the quarter, compared to analyst estimates of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS. Equities research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.36 earnings per share for the current year.

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.