KLP Kapitalforvaltning AS Invests $791,000 in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

KLP Kapitalforvaltning AS purchased a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,000 shares of the company's stock, valued at approximately $791,000.

Several other institutional investors also recently modified their holdings of the stock. Intech Investment Management LLC acquired a new position in shares of Harmony Biosciences in the 3rd quarter worth $388,000. Quantbot Technologies LP purchased a new position in Harmony Biosciences in the 3rd quarter worth about $74,000. Martingale Asset Management L P raised its holdings in Harmony Biosciences by 75.3% during the 3rd quarter. Martingale Asset Management L P now owns 34,783 shares of the company's stock worth $1,391,000 after buying an additional 14,946 shares during the period. Verition Fund Management LLC lifted its stake in Harmony Biosciences by 168.8% during the third quarter. Verition Fund Management LLC now owns 54,976 shares of the company's stock valued at $2,199,000 after buying an additional 34,524 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of Harmony Biosciences in the third quarter worth about $513,000. Institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Down 5.5 %

HRMY stock traded down $1.71 during mid-day trading on Friday, hitting $29.26. The stock had a trading volume of 959,565 shares, compared to its average volume of 559,834. Harmony Biosciences Holdings, Inc. has a 1-year low of $28.14 and a 1-year high of $41.61. The company has a fifty day moving average of $35.30 and a 200 day moving average of $35.25. 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 stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.47 and a beta of 0.80.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HRMY. HC Wainwright cut their price target on shares of Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday, February 25th. Mizuho raised their target price on Harmony Biosciences from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 18th. Finally, 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 price target on the stock. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Harmony Biosciences has an average rating of "Buy" and an average target price of $53.33.

Insider Activity

In other news, CFO Sandip Kapadia sold 1,775 shares of the company's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $38.05, for a total transaction of $67,538.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $774,228.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,452 shares of company stock worth $2,831,679. 30.80% of the stock is owned by corporate insiders.

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.