GAMMA Investing LLC Buys 96,307 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

GAMMA Investing LLC lifted its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 10,618.2% during the 1st quarter, according to the company in its most recent 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 period. GAMMA Investing LLC owned 0.17% of Harmony Biosciences worth $32,270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System raised its stake in Harmony Biosciences by 25.9% during the 4th quarter. California State Teachers Retirement System now owns 37,087 shares of the company's stock worth $1,276,000 after buying an additional 7,629 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Harmony Biosciences during the 4th quarter worth approximately $3,235,000. GF Fund Management CO. LTD. acquired a new position in Harmony Biosciences during the 4th quarter worth approximately $41,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Harmony Biosciences by 1.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,331 shares of the company's stock worth $2,145,000 after buying an additional 678 shares during the period. Finally, Voloridge Investment Management LLC raised its stake in Harmony Biosciences by 24.4% during the 4th quarter. Voloridge Investment Management LLC now owns 356,072 shares of the company's stock worth $12,252,000 after buying an additional 69,886 shares during the period. Institutional investors own 86.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HRMY. Oppenheimer began 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. Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price objective for the company. Mizuho increased their price objective on Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Cantor Fitzgerald raised Harmony Biosciences to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, UBS Group lowered their price objective on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $53.00.

Harmony Biosciences Stock Performance

Shares of HRMY traded up $0.57 on Friday, reaching $35.60. 441,103 shares of the company's stock traded hands, compared to its average volume of 616,941. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The stock has a market cap of $2.04 billion, a PE ratio of 16.87, a PEG ratio of 0.47 and a beta of 0.87. The stock's 50 day simple moving average is $31.77 and its two-hundred day simple moving average is $34.06. Harmony Biosciences Holdings, Inc. has a 52-week low of $26.47 and a 52-week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings data 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. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business had revenue of $184.73 million during the quarter, compared to analyst estimates of $184.26 million. During the same period in the prior year, the company earned $0.67 earnings per share. Harmony Biosciences's revenue was up 19.5% compared to the same quarter last year. On average, analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal 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.