Prudential Financial Inc. Grows Stock Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Prudential Financial Inc. raised its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 91.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 59,911 shares of the company's stock after acquiring an additional 28,650 shares during the period. Prudential Financial Inc. owned approximately 0.11% of Harmony Biosciences worth $2,062,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position 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 period. Mendota Financial Group LLC raised its stake in Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock valued at $33,000 after buying an additional 965 shares during the last quarter. KBC Group NV lifted its holdings in shares of Harmony Biosciences by 79.9% during the 4th quarter. KBC Group NV now owns 1,844 shares of the company's stock valued at $63,000 after buying an additional 819 shares during the period. Quantbot Technologies LP purchased a new position in shares of Harmony Biosciences in the 3rd quarter worth $74,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Harmony Biosciences by 28.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock worth $80,000 after acquiring an additional 519 shares during the period. Hedge funds and other institutional investors own 86.23% of the company's stock.

Insider Buying and Selling

In related news, CFO Sandip Kapadia sold 25,000 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total transaction of $1,004,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Dierks sold 1,629 shares of Harmony Biosciences stock in a transaction 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. In the last three months, insiders have sold 72,452 shares of company stock valued at $2,831,679. Corporate insiders own 30.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HRMY. HC Wainwright reissued a "buy" rating and issued a $70.00 target price on shares of Harmony Biosciences in a research report on Tuesday. 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 on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 target price on shares of Harmony Biosciences in a report on Tuesday. Finally, Mizuho lifted their price target on shares of 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 company presently has an average rating of "Buy" and a consensus price target of $53.33.

Harmony Biosciences Price Performance

Shares of HRMY stock traded up $0.94 on Wednesday, hitting $29.07. 1,145,935 shares of the stock traded hands, compared to its average volume of 564,042. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 0.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The firm has a 50 day simple moving average of $34.28 and a two-hundred day simple moving average of $34.92. Harmony Biosciences Holdings, Inc. has a 52 week low of $26.49 and a 52 week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. The business had revenue of $201.30 million for 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 business's quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. As a group, equities research analysts predict 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.