Polaris Capital Management LLC Acquires 13,300 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Polaris Capital Management LLC raised its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 29.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,300 shares of the company's stock after purchasing an additional 13,300 shares during the period. Polaris Capital Management LLC owned 0.10% of Harmony Biosciences worth $2,006,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HRMY. SG Americas Securities LLC increased its holdings in shares of Harmony Biosciences by 244.4% during the 3rd quarter. SG Americas Securities LLC now owns 15,724 shares of the company's stock valued at $629,000 after acquiring an additional 11,158 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Harmony Biosciences by 15.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 11,300 shares of the company's stock valued at $452,000 after acquiring an additional 1,500 shares during the last quarter. CWM LLC increased its holdings in shares of Harmony Biosciences by 111.7% during the 3rd quarter. CWM LLC now owns 1,469 shares of the company's stock valued at $59,000 after acquiring an additional 775 shares during the last quarter. Creative Planning acquired a new position in shares of Harmony Biosciences during the 3rd quarter valued at about $246,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Harmony Biosciences by 20.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 54,274 shares of the company's stock valued at $2,171,000 after acquiring an additional 9,329 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY traded up $0.15 during trading on Friday, hitting $39.23. 246,618 shares of the stock were exchanged, compared to its average volume of 540,645. Harmony Biosciences Holdings, Inc. has a 1-year low of $28.14 and a 1-year high of $41.61. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 0.51 and a beta of 0.80. The company's fifty day simple moving average is $35.95 and its 200-day simple moving average is $35.58. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

Wall Street Analysts Forecast Growth

HRMY has been the topic of a number of analyst reports. Oppenheimer reissued an "outperform" rating and set a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $52.00 target price on shares of Harmony Biosciences in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a report on Tuesday. They issued a "buy" rating and a $55.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $75.00 target price on shares of Harmony Biosciences in a report on Monday, January 27th. Finally, Cantor Fitzgerald raised their target price on Harmony Biosciences from $51.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $55.00.

Insider Transactions at Harmony Biosciences

In related 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 transaction of $67,538.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Dierks sold 1,123 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total value of $44,920.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is owned by corporate insiders.

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.