Two Sigma Advisers LP Acquires 17,700 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Two Sigma Advisers LP lifted its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 21.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,900 shares of the company's stock after acquiring an additional 17,700 shares during the quarter. Two Sigma Advisers LP owned approximately 0.17% of Harmony Biosciences worth $3,403,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HRMY. Swiss National Bank increased its stake in shares of Harmony Biosciences by 28.2% in the fourth quarter. Swiss National Bank now owns 78,200 shares of the company's stock worth $2,691,000 after purchasing an additional 17,200 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Harmony Biosciences by 50.6% in the 4th quarter. Teacher Retirement System of Texas now owns 11,801 shares of the company's stock worth $406,000 after buying an additional 3,964 shares in the last quarter. Vanguard Group Inc. raised its holdings in Harmony Biosciences by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock valued at $162,883,000 after acquiring an additional 1,262,362 shares during the period. Barclays PLC grew its stake in shares of Harmony Biosciences by 110.9% in the 3rd quarter. Barclays PLC now owns 76,862 shares of the company's stock worth $3,074,000 after buying an additional 40,416 shares in the last quarter. Finally, Amundi increased its holdings in shares of Harmony Biosciences by 243.3% in the 4th quarter. Amundi now owns 18,402 shares of the company's stock worth $635,000 after buying an additional 13,041 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HRMY. Mizuho upped their price objective on Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target for the company. UBS Group cut their price objective on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Cantor Fitzgerald upgraded shares of Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, May 6th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Harmony Biosciences presently has an average rating of "Buy" and an average target price of $52.78.

Harmony Biosciences Trading Up 1.2%

Harmony Biosciences stock traded up $0.43 during trading hours on Friday, hitting $34.48. The company had a trading volume of 279,249 shares, compared to its average volume of 605,214. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The firm has a market cap of $1.98 billion, a P/E ratio of 16.35, a P/E/G ratio of 0.47 and a beta of 0.82. The company has a 50-day moving average price of $31.51 and a two-hundred day moving average price of $33.98. Harmony Biosciences Holdings, Inc. has a 1 year low of $26.47 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.19. The company 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 23.16% and a net margin of 17.98%. Harmony Biosciences's revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 earnings per share. On average, 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.