Alberta Investment Management Corp Grows Stock Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Key Points

• Alberta Investment Management Corp increased its stake in Harmony Biosciences by 57.0% during the first quarter, holding approximately $2.01 million worth of stock.
• Several institutional investors, including Vanguard Group Inc. and Marshall Wace LLP, significantly increased their positions in Harmony Biosciences, contributing to a total of 86.23% institutional ownership.
• Wall Street analysts have a positive outlook, with eight analysts rating the stock as a buy and an average target price of $51.00 for Harmony Biosciences.

Alberta Investment Management Corp boosted its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 57.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,600 shares of the company's stock after buying an additional 22,000 shares during the quarter. Alberta Investment Management Corp owned approximately 0.11% of Harmony Biosciences worth $2,011,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new position in shares of Harmony Biosciences in the 1st quarter valued at about $29,000. GF Fund Management CO. LTD. bought a new stake in shares of Harmony Biosciences during the fourth quarter worth about $41,000. CWM LLC increased its holdings in Harmony Biosciences by 34.8% during the 1st quarter. CWM LLC now owns 2,704 shares of the company's stock worth $90,000 after purchasing an additional 698 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Harmony Biosciences by 222.9% in the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock valued at $97,000 after purchasing an additional 2,022 shares in the last quarter. Finally, Virtus Investment Advisers Inc. purchased a new position in shares of Harmony Biosciences during the fourth quarter valued at approximately $124,000. Institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Down 1.8%

HRMY stock traded down $0.62 during midday trading on Thursday, hitting $34.05. The company's stock had a trading volume of 199,143 shares, compared to its average volume of 667,218. The company has a market cap of $1.96 billion, a PE ratio of 10.98, a P/E/G ratio of 0.48 and a beta of 0.84. The firm's 50-day moving average is $34.16 and its 200-day moving average is $33.92. Harmony Biosciences Holdings, Inc. has a 12 month low of $26.47 and a 12 month high of $41.61. The company has a current ratio of 3.84, a quick ratio of 3.63 and a debt-to-equity ratio of 0.20.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%. The business had revenue of $200.49 million during the quarter, compared to the consensus estimate of $204.37 million. During the same quarter in the previous year, the business posted $1.05 earnings per share. Harmony Biosciences's quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HRMY shares. The Goldman Sachs Group began coverage on shares of Harmony Biosciences in a report on Thursday, July 10th. They issued a "neutral" rating and a $33.00 target price for the company. UBS Group cut their target price on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Cantor Fitzgerald raised Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. Truist Financial started coverage on Harmony Biosciences in a research report on Monday, July 21st. They issued a "buy" rating and a $48.00 price objective on the stock. Finally, Oppenheimer initiated coverage on Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 target price for the company. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $51.00.

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.