Summit Global Investments Has $1.04 Million Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Summit Global Investments grew its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 57.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,290 shares of the company's stock after acquiring an additional 11,027 shares during the period. Summit Global Investments owned 0.05% of Harmony Biosciences worth $1,042,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of HRMY. Pacer Advisors Inc. boosted its holdings in Harmony Biosciences by 18.2% in the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company's stock worth $78,452,000 after purchasing an additional 351,582 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Harmony Biosciences by 27.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company's stock worth $26,416,000 after buying an additional 140,690 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Harmony Biosciences by 27.1% during the 4th 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. Capital Management Corp VA increased its holdings in shares of Harmony Biosciences by 43.5% during the 4th quarter. Capital Management Corp VA now owns 340,960 shares of the company's stock valued at $11,732,000 after acquiring an additional 103,308 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Harmony Biosciences by 13.8% in the 4th quarter. Bank of New York Mellon Corp now owns 265,639 shares of the company's stock valued at $9,141,000 after acquiring an additional 32,272 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

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Wall Street Analyst Weigh In

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

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, CFO Sandip Kapadia sold 1,775 shares of Harmony Biosciences stock in a transaction on Monday, January 27th. The shares were sold at an average price of $38.05, for a total transaction of $67,538.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey Dierks sold 1,629 shares of the 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. Insiders sold a total of 72,452 shares of company stock valued at $2,831,679 in the last quarter. Corporate insiders own 30.80% of the company's stock.

Harmony Biosciences Stock Performance

NASDAQ:HRMY traded up $0.14 during trading hours on Thursday, hitting $33.35. 308,911 shares of the company traded hands, compared to its average volume of 529,119. 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 twelve month low of $28.14 and a twelve month high of $41.61. The firm has a 50-day moving average of $36.23 and a 200 day moving average of $35.54. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 0.47 and a beta of 0.82.

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