Legal & General Group Plc Purchases 25,338 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Legal & General Group Plc raised its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 27.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,959 shares of the company's stock after acquiring an additional 25,338 shares during the quarter. Legal & General Group Plc owned 0.21% of Harmony Biosciences worth $4,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Harmony Biosciences by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock worth $162,883,000 after buying an additional 1,262,362 shares during the period. Norges Bank acquired a new position in Harmony Biosciences in the fourth quarter worth $16,118,000. 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 purchasing an additional 351,582 shares during the last quarter. Invesco Ltd. increased its position in Harmony Biosciences by 173.9% in the fourth quarter. Invesco Ltd. now owns 449,180 shares of the company's stock worth $15,456,000 after purchasing an additional 285,156 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Harmony Biosciences by 28.7% during the 4th quarter. American Century Companies Inc. now owns 1,102,604 shares of the company's stock valued at $37,941,000 after acquiring an additional 246,140 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HRMY shares. Mizuho raised their price objective on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Tuesday, March 18th. HC Wainwright reissued a "buy" rating and set a $70.00 price target on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 target price on shares of Harmony Biosciences in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 target price for the company. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Harmony Biosciences currently has an average rating of "Buy" and a consensus target price of $53.33.

Harmony Biosciences Stock Performance

Shares of Harmony Biosciences stock traded up $0.18 during trading hours on Friday, hitting $29.61. 307,935 shares of the company's stock traded hands, compared to its average volume of 577,647. The company has a fifty day simple moving average of $31.96 and a 200-day simple moving average of $34.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.47 and a beta of 0.80. Harmony Biosciences Holdings, Inc. has a 12-month low of $26.47 and a 12-month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. Equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Insider Transactions at Harmony Biosciences

In other news, CFO Sandip Kapadia sold 1,775 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $38.05, for a total value of $67,538.75. The transaction 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 firm's stock in a transaction that occurred on Monday, January 27th. The shares were 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. Company insiders own 23.60% of the company's stock.

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.