Aquatic Capital Management LLC Invests $383,000 in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Aquatic Capital Management LLC acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,127 shares of the company's stock, valued at approximately $383,000.

A number of other hedge funds have also recently modified their holdings of HRMY. Vanguard Group Inc. raised its position in Harmony Biosciences by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock worth $162,883,000 after acquiring an additional 1,262,362 shares during the period. Marshall Wace LLP raised its holdings in Harmony Biosciences by 165.2% in the 4th quarter. Marshall Wace LLP now owns 929,744 shares of the company's stock valued at $31,992,000 after acquiring an additional 579,103 shares during the last quarter. Norges Bank purchased a new position in Harmony Biosciences in the 4th quarter worth approximately $16,118,000. Pacer Advisors Inc. boosted its holdings in shares of Harmony Biosciences by 18.2% during the 4th 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 during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Harmony Biosciences by 173.9% in the fourth quarter. Invesco Ltd. now owns 449,180 shares of the company's stock valued at $15,456,000 after purchasing an additional 285,156 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They set a "buy" rating and a $55.00 target price for the company. Needham & Company LLC restated a "buy" rating and issued a $49.00 price objective on shares of Harmony Biosciences in a report on Tuesday. Mizuho increased their target price on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 18th. UBS Group reduced their price target on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $70.00 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 a consensus rating of "Buy" and a consensus target price of $52.33.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY traded down $0.44 during mid-day trading on Thursday, hitting $33.00. 140,908 shares of the company were exchanged, compared to its average volume of 583,037. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The stock has a 50 day simple moving average of $31.31 and a 200-day simple moving average of $34.02. Harmony Biosciences Holdings, Inc. has a 1-year low of $26.47 and a 1-year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.19. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company had revenue of $184.73 million during the quarter, compared to the consensus estimate of $184.26 million. During the same quarter last year, the company earned $0.67 earnings per share. Harmony Biosciences's quarterly revenue was up 19.5% compared to the same quarter last year. On average, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

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.