37,907 Shares in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 37,907 shares of the company's stock, valued at approximately $1,304,000. Raymond James Financial Inc. owned approximately 0.07% of Harmony Biosciences as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC bought a new stake in shares of Harmony Biosciences during the 3rd quarter worth approximately $388,000. Quantbot Technologies LP acquired a new position in Harmony Biosciences during the third quarter valued at approximately $74,000. Verition Fund Management LLC lifted its stake in Harmony Biosciences by 168.8% during the third quarter. Verition Fund Management LLC now owns 54,976 shares of the company's stock worth $2,199,000 after purchasing an additional 34,524 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Harmony Biosciences in the 3rd quarter valued at $513,000. Finally, HighTower Advisors LLC increased its stake 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 valued at $3,199,000 after purchasing an additional 62,729 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Analyst Ratings Changes

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

Harmony Biosciences Trading Down 2.9 %

NASDAQ:HRMY traded down $0.86 during mid-day trading on Monday, hitting $28.40. 924,867 shares of the company's stock were exchanged, compared to its average volume of 561,288. 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 Holdings, Inc. has a fifty-two week low of $27.30 and a fifty-two week high of $41.61. The company has a 50 day simple moving average of $35.10 and a 200-day simple moving average of $35.15. The firm has a market capitalization of $1.63 billion, a P/E ratio of 13.46, a PEG ratio of 0.47 and a beta of 0.80.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.11. The company had revenue of $201.30 million for the quarter, compared to analyst estimates of $201.25 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. Harmony Biosciences's revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. As a group, research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Insider Buying and Selling at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 1,629 shares of the business's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $38.02, for a total value of $61,934.58. The sale 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 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 72,452 shares of company stock worth $2,831,679. Insiders own 30.80% of the company's stock.

Harmony Biosciences 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.