Adage Capital Partners GP L.L.C. Increases Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Adage Capital Partners GP L.L.C. increased its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 66.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 500,000 shares of the company's stock after buying an additional 200,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.88% of Harmony Biosciences worth $17,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in Harmony Biosciences by 33.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,788 shares of the company's stock valued at $681,000 after purchasing an additional 4,911 shares during the period. Dark Forest Capital Management LP bought a new stake in Harmony Biosciences in the fourth quarter valued at $536,000. Hsbc Holdings PLC increased its position in Harmony Biosciences by 13.5% during the 4th quarter. Hsbc Holdings PLC now owns 20,401 shares of the company's stock valued at $701,000 after purchasing an additional 2,424 shares during the period. MetLife Investment Management LLC lifted its position in shares of Harmony Biosciences by 29.3% in the 4th quarter. MetLife Investment Management LLC now owns 23,127 shares of the company's stock worth $796,000 after purchasing an additional 5,242 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Harmony Biosciences by 15.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company's stock valued at $41,739,000 after purchasing an additional 160,490 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Price Performance

Shares of Harmony Biosciences stock traded up $0.03 during trading hours on Wednesday, hitting $29.47. The company's stock had a trading volume of 435,316 shares, compared to its average volume of 578,346. The company has a market cap of $1.69 billion, a PE ratio of 13.97, a PEG ratio of 0.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. Harmony Biosciences Holdings, Inc. has a 12-month low of $26.47 and a 12-month high of $41.61. The business has a 50 day moving average price of $31.73 and a two-hundred day moving average price of $34.19.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. UBS Group cut their price objective on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday. Needham & Company LLC reiterated a "buy" rating and set a $50.00 target price on shares of Harmony Biosciences in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target on the stock. Mizuho increased their target price on Harmony Biosciences from $42.00 to $44.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 18th. Finally, HC Wainwright restated a "buy" rating and set a $70.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Harmony Biosciences presently has an average rating of "Buy" and an average price target of $52.44.

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.