Connor Clark & Lunn Investment Management Ltd. Takes $3.79 Million Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 114,210 shares of the company's stock, valued at approximately $3,791,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.20% of Harmony Biosciences as of its most recent SEC filing.

Several other large investors have also bought and sold shares of HRMY. JPMorgan Chase & Co. boosted its stake in Harmony Biosciences by 2.4% in the fourth quarter. JPMorgan Chase & Co. now owns 235,882 shares of the company's stock valued at $8,117,000 after buying an additional 5,454 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Harmony Biosciences by 7.0% during the fourth quarter. Franklin Resources Inc. now owns 31,869 shares of the company's stock valued at $1,097,000 after purchasing an additional 2,096 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Harmony Biosciences by 22.8% during the fourth quarter. Geode Capital Management LLC now owns 902,934 shares of the company's stock valued at $31,077,000 after purchasing an additional 167,516 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Harmony Biosciences by 2.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 53,826 shares of the company's stock valued at $1,852,000 after purchasing an additional 1,321 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Harmony Biosciences by 173.9% during the fourth quarter. Invesco Ltd. now owns 449,180 shares of the company's stock valued at $15,456,000 after purchasing an additional 285,156 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $55.00 price target (up from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th. UBS Group cut 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. Oppenheimer assumed coverage on Harmony Biosciences in a research note on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target on the stock. Wall Street Zen lowered Harmony Biosciences from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Mizuho raised their price objective on Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $51.00.

Harmony Biosciences Trading Up 1.0%

HRMY stock traded up $0.36 during mid-day trading on Friday, reaching $36.87. The company's stock had a trading volume of 450,582 shares, compared to its average volume of 608,855. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 11.89, a price-to-earnings-growth ratio of 0.43 and a beta of 0.84. The business's 50 day moving average price is $34.24 and its 200 day moving average price is $33.73. The company has a current ratio of 3.84, a quick ratio of 3.80 and a debt-to-equity ratio of 0.20. Harmony Biosciences Holdings, Inc. has a 12 month low of $26.47 and a 12 month high of $41.61.

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

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.