BNP Paribas Financial Markets Makes New $2.03 Million Investment in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

BNP Paribas Financial Markets purchased a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 58,857 shares of the company's stock, valued at approximately $2,025,000. BNP Paribas Financial Markets owned 0.10% of Harmony Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in HRMY. Vanguard Group Inc. raised its stake in Harmony Biosciences by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock worth $162,883,000 after buying an additional 1,262,362 shares during the period. Marshall Wace LLP raised its stake in shares of Harmony Biosciences by 165.2% during the 4th quarter. Marshall Wace LLP now owns 929,744 shares of the company's stock worth $31,992,000 after purchasing an additional 579,103 shares during the period. Norges Bank purchased a new position in shares of Harmony Biosciences in the 4th quarter worth about $16,118,000. Pacer Advisors Inc. grew its position 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 valued at $78,452,000 after acquiring an additional 351,582 shares during the period. Finally, Invesco Ltd. increased its position in Harmony Biosciences by 173.9% in the fourth quarter. Invesco Ltd. now owns 449,180 shares of the company's stock worth $15,456,000 after buying an additional 285,156 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HRMY shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target on the stock. Cantor Fitzgerald raised Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. Mizuho upped their price target on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. UBS Group decreased their price target 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $49.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, May 6th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $52.78.

Harmony Biosciences Stock Down 0.7%

HRMY traded down $0.23 during midday trading on Thursday, reaching $34.27. The company's stock had a trading volume of 355,827 shares, compared to its average volume of 597,269. The stock's 50-day moving average is $31.59 and its 200-day moving average is $34.01. Harmony Biosciences Holdings, Inc. has a 1 year low of $26.47 and a 1 year high of $41.61. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.47 and a beta of 0.82. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28.

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