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

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

Several other hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its holdings in shares of Harmony Biosciences by 112.5% in the 4th quarter. Victory Capital Management Inc. now owns 146,609 shares of the company's stock worth $5,045,000 after buying an additional 77,611 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Harmony Biosciences by 27.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 472,028 shares of the company's stock worth $16,242,000 after acquiring an additional 100,586 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Harmony Biosciences by 26.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,026 shares of the company's stock valued at $311,000 after acquiring an additional 1,900 shares during the period. Denali Advisors LLC boosted its stake in shares of Harmony Biosciences by 102.6% in the 4th quarter. Denali Advisors LLC now owns 104,314 shares of the company's stock valued at $3,589,000 after purchasing an additional 52,814 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of Harmony Biosciences by 37.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 21,786 shares of the company's stock worth $750,000 after purchasing an additional 5,888 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

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Wall Street Analysts Forecast Growth

HRMY has been the topic of a number of recent analyst reports. Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of Harmony Biosciences in a research report on Tuesday, February 25th. HC Wainwright reduced their target price on Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a report on Tuesday, February 11th. They set a "buy" rating and a $55.00 price target for the company. Finally, Mizuho boosted their price objective on Harmony Biosciences from $42.00 to $44.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 18th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $53.33.

Harmony Biosciences Trading Down 0.5 %

Shares of HRMY traded down $0.16 during trading hours on Friday, hitting $33.19. 666,052 shares of the stock traded hands, compared to its average volume of 553,054. The business has a fifty day moving average of $36.01 and a 200-day moving average of $35.48. The firm has a market capitalization of $1.90 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. Harmony Biosciences Holdings, Inc. has a 1-year low of $28.14 and a 1-year 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.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced 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. The firm had revenue of $201.30 million during the quarter, compared to analysts' expectations of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. Analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Insider Activity at Harmony Biosciences

In other news, CEO Jeffrey M. Dayno sold 19,293 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total value of $774,228.09. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sandip Kapadia sold 25,000 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total value of $1,004,500.00. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock worth $2,831,679 over the last ninety days. Company insiders own 30.80% of the company's stock.

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.