Deep Track Capital LP Takes Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Deep Track Capital LP acquired a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,450,000 shares of the company's stock, valued at approximately $49,894,000. Harmony Biosciences accounts for approximately 1.9% of Deep Track Capital LP's investment portfolio, making the stock its 17th largest position. Deep Track Capital LP owned approximately 2.54% of Harmony Biosciences at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company's stock valued at $31,000 after acquiring an additional 436 shares during the last quarter. Mendota Financial Group LLC lifted its holdings in shares of Harmony Biosciences by 24,125.0% in the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock valued at $33,000 after buying an additional 965 shares during the period. KBC Group NV boosted its stake in shares of Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company's stock worth $63,000 after buying an additional 819 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Harmony Biosciences by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock worth $80,000 after acquiring an additional 519 shares during the period. Finally, Summit Investment Advisors Inc. raised its position in Harmony Biosciences by 34.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,987 shares of the company's stock valued at $137,000 after acquiring an additional 1,029 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HRMY. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They set a "buy" rating and a $55.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 price target on shares of Harmony Biosciences in a report on Tuesday, April 8th. Mizuho raised their price objective on Harmony Biosciences from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Tuesday, March 18th. UBS Group decreased their target price on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Needham & Company LLC restated a "buy" rating and set a $49.00 price objective on shares of Harmony Biosciences in a research report on Tuesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $52.33.

Harmony Biosciences Price Performance

Shares of Harmony Biosciences stock traded down $0.04 during trading hours on Friday, reaching $34.05. 527,947 shares of the company's stock were exchanged, compared to its average volume of 585,983. The business has a fifty day moving average of $31.38 and a two-hundred day moving average of $34.01. The company has a market capitalization of $1.96 billion, a P/E ratio of 16.14, a price-to-earnings-growth 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 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 announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.19. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company had revenue of $184.73 million during the quarter, compared to analysts' expectations of $184.26 million. During the same quarter in the prior year, the company earned $0.67 EPS. Harmony Biosciences's revenue was up 19.5% compared to the same quarter last year. As a group, research analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share 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.