75,770 Shares in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 75,770 shares of the company's stock, valued at approximately $2,515,000. Edgestream Partners L.P. owned 0.13% of Harmony Biosciences as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hillsdale Investment Management Inc. grew its holdings in shares of Harmony Biosciences by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 68,000 shares of the company's stock worth $2,340,000 after acquiring an additional 300 shares during the period. Aurora Investment Counsel grew its stake in shares of Harmony Biosciences by 0.6% in the 1st quarter. Aurora Investment Counsel now owns 61,667 shares of the company's stock worth $2,047,000 after buying an additional 374 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Harmony Biosciences by 2.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company's stock worth $704,000 after buying an additional 420 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Harmony Biosciences by 0.4% in the 1st quarter. Rhumbline Advisers now owns 109,073 shares of the company's stock worth $3,620,000 after buying an additional 485 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Harmony Biosciences by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock worth $80,000 after buying an additional 519 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HRMY. 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. The Goldman Sachs Group upgraded Harmony Biosciences to a "hold" rating and set a $33.00 price target on the stock in a research note on Thursday, July 10th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $55.00 price target (up previously from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th. Oppenheimer initiated coverage on Harmony Biosciences in a research note on Monday, June 2nd. They set an "outperform" rating and a $61.00 target price on the stock. Finally, Mizuho increased their target price on Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $51.33.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY traded down $1.23 during midday trading on Friday, hitting $35.20. 701,636 shares of the stock traded hands, compared to its average volume of 635,644. The firm has a 50-day moving average of $33.84 and a two-hundred day moving average of $33.91. The firm has a market capitalization of $2.02 billion, a P/E ratio of 13.44, a PEG ratio of 0.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.63 and a current ratio of 3.67. Harmony Biosciences Holdings, Inc. has a one year low of $26.47 and a one year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released 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 firm 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 24.32% and a net margin of 20.53%. The company's revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 EPS. On average, equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Harmony Biosciences 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.