Renaissance Technologies LLC Buys 76,071 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Renaissance Technologies LLC increased its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 15.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 568,671 shares of the company's stock after purchasing an additional 76,071 shares during the quarter. Renaissance Technologies LLC owned approximately 1.00% of Harmony Biosciences worth $19,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HRMY. GAMMA Investing LLC boosted its position in Harmony Biosciences by 92.6% during the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company's stock valued at $31,000 after acquiring an additional 436 shares in the last quarter. Mendota Financial Group LLC boosted its holdings in shares of 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 in the last quarter. KBC Group NV grew its position in shares of Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company's stock worth $63,000 after buying an additional 819 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Harmony Biosciences by 28.7% in the 4th 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 in the last quarter. Finally, Avanza Fonder AB bought a new stake in Harmony Biosciences during the fourth quarter worth about $145,000. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Trading Up 1.9 %

NASDAQ HRMY traded up $0.52 during trading hours on Friday, hitting $28.46. 456,319 shares of the company were exchanged, compared to its average volume of 573,192. The stock has a market cap of $1.63 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. Harmony Biosciences Holdings, Inc. has a 52 week low of $26.47 and a 52 week high of $41.61. The stock has a 50-day moving average price of $33.11 and a 200 day moving average price of $34.53. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $201.30 million during 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 quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 earnings per share. Analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Sandip Kapadia sold 25,000 shares of the firm's stock in a transaction that occurred 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 SEC, which is available through the SEC website. Also, insider Jeffrey Dierks sold 1,629 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $38.02, for a total value of $61,934.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,945 shares of company stock valued at $2,442,815. 30.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HRMY has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They set a "buy" rating and a $55.00 target price for the company. Mizuho increased 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. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Harmony Biosciences currently has an average rating of "Buy" and a consensus target price of $53.33.

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.