Norges Bank Buys New Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Norges Bank acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 468,410 shares of the company's stock, valued at approximately $16,118,000. Norges Bank owned 0.82% of Harmony Biosciences as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its position in shares of Harmony Biosciences by 364.0% in the 3rd quarter. HighTower Advisors LLC now owns 79,961 shares of the company's stock worth $3,199,000 after purchasing an additional 62,729 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Harmony Biosciences by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company's stock valued at $9,217,000 after buying an additional 93,622 shares during the period. Swiss National Bank boosted its holdings in Harmony Biosciences by 28.2% during the fourth quarter. Swiss National Bank now owns 78,200 shares of the company's stock worth $2,691,000 after buying an additional 17,200 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Harmony Biosciences by 50.6% during the fourth quarter. Teacher Retirement System of Texas now owns 11,801 shares of the company's stock worth $406,000 after buying an additional 3,964 shares during the last quarter. Finally, Vanguard Group Inc. grew its position 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. 86.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HRMY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They set a "buy" rating and a $55.00 price objective on the stock. Needham & Company LLC reissued a "buy" rating and set a $50.00 price target on shares of Harmony Biosciences in a research report on Tuesday. Mizuho upped their price objective on shares of Harmony Biosciences from $42.00 to $44.00 and gave the company an "outperform" rating in a research report on Tuesday, March 18th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $70.00 price objective on shares of Harmony Biosciences in a research note on Tuesday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $53.33.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Dierks sold 10,507 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total value of $388,864.07. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock valued at $2,831,679 in the last ninety days. 30.80% of the stock is currently owned by corporate insiders.

Harmony Biosciences Stock Up 0.6 %

NASDAQ HRMY traded up $0.18 on Friday, reaching $29.17. The company had a trading volume of 827,269 shares, compared to its average volume of 568,427. The company's fifty day moving average is $33.89 and its 200-day moving average is $34.80. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. Harmony Biosciences Holdings, Inc. has a 1-year low of $26.47 and a 1-year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, topping 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 company had revenue of $201.30 million during the quarter, compared to analysts' expectations of $201.25 million. During the same period in the prior year, the firm earned $0.45 earnings per share. Harmony Biosciences's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

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.