Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 18.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,588 shares of the company's stock after purchasing an additional 16,537 shares during the period. Rhumbline Advisers owned 0.19% of Harmony Biosciences worth $3,736,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System grew its holdings in shares of Harmony Biosciences by 2.6% during the fourth quarter. New York State Teachers Retirement System now owns 31,693 shares of the company's stock worth $1,091,000 after purchasing an additional 809 shares during the last quarter. Legato Capital Management LLC grew its stake in Harmony Biosciences by 26.0% during the 4th quarter. Legato Capital Management LLC now owns 26,720 shares of the company's stock worth $919,000 after buying an additional 5,506 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Harmony Biosciences by 26.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the company's stock worth $637,000 after buying an additional 3,900 shares during the last quarter. Polaris Capital Management LLC increased its position in Harmony Biosciences by 29.6% during the fourth quarter. Polaris Capital Management LLC now owns 58,300 shares of the company's stock worth $2,006,000 after buying an additional 13,300 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Harmony Biosciences by 6.2% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 47,700 shares of the company's stock valued at $1,641,000 after buying an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a "buy" rating and a $55.00 price objective on the stock. HC Wainwright reduced their target price on shares of Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating for the company in a report on Thursday. Finally, Mizuho decreased their target price on shares of Harmony Biosciences from $52.00 to $42.00 and set an "outperform" rating for the company in a research note on Thursday, February 20th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $53.11.

Harmony Biosciences Stock Performance

Shares of Harmony Biosciences stock traded down $1.67 on Monday, reaching $32.18. 747,426 shares of the stock were exchanged, compared to its average volume of 644,598. The firm has a market capitalization of $1.85 billion, a PE ratio of 15.25, a PEG ratio of 0.47 and a beta of 0.80. Harmony Biosciences Holdings, Inc. has a 1-year low of $28.14 and a 1-year high of $41.61. The business has a fifty day moving average price of $36.63 and a two-hundred day moving average price of $35.81. 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 released its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The company 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 firm's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 19,293 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Dierks sold 1,123 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock valued at $2,831,679 over the last quarter. 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.