CX Institutional Purchases Shares of 77,867 Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

CX Institutional purchased a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 77,867 shares of the company's stock, valued at approximately $2,584,000. CX Institutional owned about 0.14% of Harmony Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Financial Management Professionals Inc. purchased a new position in Harmony Biosciences in the first quarter worth approximately $29,000. GF Fund Management CO. LTD. purchased a new position in Harmony Biosciences in the fourth quarter worth approximately $41,000. PNC Financial Services Group Inc. grew its position in Harmony Biosciences by 28.7% in 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. GAMMA Investing LLC grew its position in Harmony Biosciences by 222.9% in the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $97,000 after acquiring an additional 2,022 shares during the period. Finally, Virtus Investment Advisers Inc. purchased a new position in Harmony Biosciences in the fourth quarter worth approximately $124,000. Institutional investors and hedge funds own 86.23% of the company's stock.

Harmony Biosciences Stock Down 1.1%

Shares of NASDAQ HRMY traded down $0.36 during mid-day trading on Friday, hitting $32.97. The company had a trading volume of 786,752 shares, compared to its average volume of 622,510. The company has a market capitalization of $1.89 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 0.47 and a beta of 0.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. Harmony Biosciences Holdings, Inc. has a 1-year low of $26.47 and a 1-year high of $41.61. The business's 50-day simple moving average is $32.14 and its 200 day simple moving average is $34.09.

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. The business had revenue of $184.73 million for the quarter, compared to analysts' expectations of $184.26 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm earned $0.67 earnings per share. On average, analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Cantor Fitzgerald upgraded Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. Mizuho raised their price target on Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Oppenheimer started coverage on Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target for the company. HC Wainwright restated a "buy" rating and set a $70.00 price target on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Finally, Needham & Company LLC restated a "buy" rating and set a $49.00 price target on shares of Harmony Biosciences in a research report on Tuesday, May 6th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $53.00.

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.