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

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

Several other hedge funds and other institutional investors have also recently made changes to their positions in HRMY. KBC Group NV increased its position in shares of Harmony Biosciences by 79.9% during the 4th quarter. KBC Group NV now owns 1,844 shares of the company's stock valued at $63,000 after purchasing an additional 819 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Harmony Biosciences by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock valued at $80,000 after acquiring an additional 519 shares during the period. Summit Investment Advisors Inc. boosted its stake in Harmony Biosciences by 34.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,987 shares of the company's stock worth $137,000 after purchasing an additional 1,029 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Harmony Biosciences by 66.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,214 shares of the company's stock worth $146,000 after purchasing an additional 1,681 shares during the period. Finally, Quantbot Technologies LP boosted its stake in Harmony Biosciences by 219.8% in the 4th quarter. Quantbot Technologies LP now owns 5,926 shares of the company's stock worth $204,000 after purchasing an additional 4,073 shares during the period. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on HRMY. Mizuho increased their target price 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 assumed coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a "buy" rating and a $55.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $49.00 target price on shares of Harmony Biosciences in a research note on Tuesday, May 6th. Cantor Fitzgerald upgraded Harmony Biosciences to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, UBS Group reduced their target price 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. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $52.78.

Harmony Biosciences Stock Up 0.4%

Shares of Harmony Biosciences stock traded up $0.12 during trading on Wednesday, hitting $33.91. 330,863 shares of the stock traded hands, compared to its average volume of 680,408. The firm has a market cap of $1.95 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a 52-week low of $26.47 and a 52-week high of $41.61. The stock's fifty day simple moving average is $31.55 and its 200 day simple moving average is $34.00.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.78 EPS 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 firm had revenue of $184.73 million for the quarter, compared to analyst estimates of $184.26 million. During the same quarter last year, the firm posted $0.67 earnings per share. The business's revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities analysts predict 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.