Proficio Capital Partners LLC Invests $367,000 in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Proficio Capital Partners LLC purchased a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,667 shares of the company's stock, valued at approximately $367,000.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company's stock valued at $31,000 after purchasing an additional 436 shares during the last quarter. Mendota Financial Group LLC increased its stake in Harmony Biosciences by 24,125.0% during the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock valued at $33,000 after purchasing an additional 965 shares during the last quarter. KBC Group NV increased its stake in Harmony Biosciences by 79.9% during the fourth quarter. KBC Group NV now owns 1,844 shares of the company's stock valued at $63,000 after purchasing an additional 819 shares during the last quarter. Quantbot Technologies LP bought a new stake in Harmony Biosciences during the third quarter valued at $74,000. Finally, Avanza Fonder AB bought a new stake in Harmony Biosciences during the fourth quarter valued at $145,000. Institutional investors and hedge funds own 86.23% of the company's stock.

Harmony Biosciences Stock Performance

Harmony Biosciences stock remained flat at $32.72 during trading hours on Friday. The company's stock had a trading volume of 489,131 shares, compared to its average volume of 631,629. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. 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 50 day moving average price of $36.44 and a 200-day moving average price of $35.65. Harmony Biosciences Holdings, Inc. has a 52-week low of $28.14 and a 52-week high of $41.61.

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Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $201.25 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The company's revenue was up 19.5% on a year-over-year basis. As a group, research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

HRMY has been the subject of several analyst reports. Needham & Company LLC reissued a "buy" rating and set a $50.00 price target on shares of Harmony Biosciences in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price objective for the company. HC Wainwright reduced their price objective on shares of Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Mizuho reduced their price objective on shares of Harmony Biosciences from $52.00 to $42.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $53.11.

Insider Activity at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 10,507 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total value of $388,864.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandip Kapadia sold 1,775 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $38.05, for a total value of $67,538.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,452 shares of company stock worth $2,831,679. 30.80% of the stock is owned by corporate insiders.

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.