Marshall Wace LLP Acquires 579,103 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Marshall Wace LLP grew its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 165.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 929,744 shares of the company's stock after buying an additional 579,103 shares during the period. Marshall Wace LLP owned 1.63% of Harmony Biosciences worth $31,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company's stock worth $31,000 after purchasing an additional 436 shares in the last quarter. Mendota Financial Group LLC increased its holdings in Harmony Biosciences by 24,125.0% in the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock valued at $33,000 after buying an additional 965 shares in the last quarter. KBC Group NV raised its holdings in Harmony Biosciences by 79.9% during the fourth quarter. KBC Group NV now owns 1,844 shares of the company's stock worth $63,000 after purchasing an additional 819 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Harmony Biosciences by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock worth $80,000 after buying an additional 519 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Harmony Biosciences by 34.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,987 shares of the company's stock valued at $137,000 after purchasing an additional 1,029 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Stock Performance

Harmony Biosciences stock traded up $0.49 during midday trading on Thursday, reaching $29.39. 105,076 shares of the stock traded hands, compared to its average volume of 575,732. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $26.47 and a fifty-two week high of $41.61. 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 has a market cap of $1.69 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.47 and a beta of 0.80. The firm has a fifty day moving average price of $32.34 and a two-hundred day moving average price of $34.33.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its 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. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm had revenue of $201.30 million for the quarter, compared to analysts' expectations of $201.25 million. During the same period last year, the firm earned $0.45 EPS. The firm's revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Insider Activity at Harmony Biosciences

In related news, CFO Sandip Kapadia sold 1,775 shares of Harmony Biosciences stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $38.05, for a total value of $67,538.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeffrey Dierks sold 1,629 shares of the business'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. Insiders have sold 16,529 shares of company stock worth $619,167 over the last quarter. 23.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

HRMY has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a "buy" rating and a $55.00 target price for the company. Mizuho upped 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, HC Wainwright reiterated a "buy" rating and issued a $70.00 price objective on shares of Harmony Biosciences in a report on Tuesday, April 8th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Harmony Biosciences has a consensus rating of "Buy" and a consensus target price of $53.33.

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.