Rafferty Asset Management LLC Takes Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Rafferty Asset Management LLC acquired a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,105 shares of the company's stock, valued at approximately $279,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HRMY. Barclays PLC increased 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 valued at $3,074,000 after acquiring an additional 40,416 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Harmony Biosciences by 43.1% in the 4th quarter. SG Americas Securities LLC now owns 22,498 shares of the company's stock valued at $774,000 after acquiring an additional 6,774 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Harmony Biosciences by 9.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 17,445 shares of the company's stock valued at $600,000 after acquiring an additional 1,550 shares during the last quarter. KBC Group NV increased its stake in shares of Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company's stock valued at $63,000 after acquiring an additional 819 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Harmony Biosciences by 18.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company's stock valued at $78,452,000 after acquiring an additional 351,582 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Stock Up 1.3%

NASDAQ:HRMY traded up $0.45 during trading hours on Thursday, reaching $34.17. 314,397 shares of the stock were exchanged, compared to its average volume of 602,661. Harmony Biosciences Holdings, Inc. has a twelve month low of $26.47 and a twelve month high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The firm has a 50 day moving average of $31.52 and a 200 day moving average of $34.00. The stock has a market cap of $1.96 billion, a PE ratio of 16.26, a PEG ratio of 0.47 and a beta of 0.82.

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, topping analysts' consensus estimates of $0.59 by $0.19. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm had revenue of $184.73 million during the quarter, compared to the consensus estimate of $184.26 million. During the same quarter in the prior year, the firm posted $0.67 EPS. The business's revenue was up 19.5% on a year-over-year basis. On average, equities analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HRMY. Mizuho upped their price target on Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target for the company. Cantor Fitzgerald raised Harmony Biosciences to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Needham & Company LLC reissued a "buy" rating and set a $49.00 target price on shares of Harmony Biosciences in a research note 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 stock. According to MarketBeat.com, Harmony Biosciences presently has a consensus rating of "Buy" and an average price target of $52.78.

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.