GAMMA Investing LLC Increases Stock Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

GAMMA Investing LLC increased its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 10,618.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,214 shares of the company's stock after purchasing an additional 96,307 shares during the quarter. GAMMA Investing LLC owned 0.17% of Harmony Biosciences worth $32,270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HRMY. Swiss National Bank boosted its position in shares of Harmony Biosciences by 28.2% during the 4th quarter. Swiss National Bank now owns 78,200 shares of the company's stock worth $2,691,000 after acquiring an additional 17,200 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Harmony Biosciences by 50.6% in the 4th quarter. Teacher Retirement System of Texas now owns 11,801 shares of the company's stock valued at $406,000 after purchasing an additional 3,964 shares during the period. Vanguard Group Inc. boosted its position in shares of Harmony Biosciences by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock valued at $162,883,000 after purchasing an additional 1,262,362 shares during the period. Two Sigma Advisers LP boosted its position in shares of Harmony Biosciences by 21.8% in the 4th quarter. Two Sigma Advisers LP now owns 98,900 shares of the company's stock valued at $3,403,000 after purchasing an additional 17,700 shares during the period. Finally, Barclays PLC boosted its position in shares of Harmony Biosciences by 110.9% in the 3rd quarter. Barclays PLC now owns 76,862 shares of the company's stock valued at $3,074,000 after purchasing an additional 40,416 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HRMY has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 target price for the company. Cantor Fitzgerald raised Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. HC Wainwright reissued a "buy" rating and issued a $70.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 8th. 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. Finally, Oppenheimer began coverage on Harmony Biosciences in a research note on Monday. They set an "outperform" rating and a $61.00 price objective for the company. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $53.00.

Harmony Biosciences Stock Performance

HRMY traded down $0.13 on Thursday, hitting $35.03. 502,597 shares of the company traded hands, compared to its average volume of 612,735. The stock has a market capitalization of $2.01 billion, a PE ratio of 16.60, a PEG ratio of 0.47 and a beta of 0.87. The company has a 50 day moving average of $31.67 and a 200-day moving average of $34.02. Harmony Biosciences Holdings, Inc. has a 12-month low of $26.47 and a 12-month high of $41.61. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.19. The business had revenue of $184.73 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 EPS. Sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share 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.