Connors Investor Services Inc. Purchases New Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Connors Investor Services Inc. acquired a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 72,692 shares of the company's stock, valued at approximately $2,501,000. Connors Investor Services Inc. owned 0.13% of Harmony Biosciences as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Comerica Bank grew its holdings in shares of Harmony Biosciences by 27.6% in the fourth quarter. Comerica Bank now owns 13,495 shares of the company's stock worth $464,000 after purchasing an additional 2,919 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Harmony Biosciences by 11.4% during the fourth quarter. AQR Capital Management LLC now owns 158,856 shares of the company's stock worth $5,466,000 after acquiring an additional 16,271 shares during the period. Northern Trust Corp raised its stake in shares of Harmony Biosciences by 37.5% during the fourth quarter. Northern Trust Corp now owns 404,462 shares of the company's stock valued at $13,918,000 after acquiring an additional 110,345 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Harmony Biosciences by 12.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 19,385 shares of the company's stock valued at $667,000 after purchasing an additional 2,144 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in Harmony Biosciences in the fourth quarter worth approximately $383,000. Institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Down 0.3 %

Shares of Harmony Biosciences stock traded down $0.09 during trading on Monday, reaching $30.23. The company's stock had a trading volume of 236,951 shares, compared to its average volume of 573,404. The company has a 50-day simple moving average of $31.41 and a two-hundred day simple moving average of $34.08. Harmony Biosciences Holdings, Inc. has a 1-year low of $26.47 and a 1-year high of $41.61. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 0.47 and a beta of 0.82. 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 announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $201.30 million during the quarter, compared to analyst estimates of $201.25 million. During the same period last year, the firm posted $0.45 EPS. Harmony Biosciences's revenue was up 19.5% on a year-over-year basis. As a group, equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $70.00 target price on shares of Harmony Biosciences in a report on Tuesday, April 8th. UBS Group dropped their target price on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target for the company. Mizuho increased their price objective on shares of Harmony Biosciences from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Tuesday, March 18th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $50.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Harmony Biosciences currently has a consensus rating of "Buy" and an average target price of $52.44.

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.