Voloridge Investment Management LLC Grows Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Voloridge Investment Management LLC increased its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 24.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 356,072 shares of the company's stock after acquiring an additional 69,886 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.62% of Harmony Biosciences worth $12,252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. boosted its stake in Harmony Biosciences by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 68,000 shares of the company's stock worth $2,340,000 after buying an additional 300 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Harmony Biosciences by 2.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company's stock worth $704,000 after purchasing an additional 420 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Harmony Biosciences by 28.7% in 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. Aviva PLC increased its holdings in shares of Harmony Biosciences by 3.9% in the 4th quarter. Aviva PLC now owns 18,072 shares of the company's stock valued at $622,000 after acquiring an additional 686 shares during the period. Finally, BOKF NA increased its holdings in shares of Harmony Biosciences by 4.7% in the 4th quarter. BOKF NA now owns 15,400 shares of the company's stock valued at $521,000 after acquiring an additional 690 shares during the period. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Up 1.3%

Shares of NASDAQ HRMY traded up $0.45 during midday trading on Thursday, hitting $34.17. 351,792 shares of the stock traded hands, compared to its average volume of 602,776. The company has a market cap of $1.96 billion, a PE ratio of 16.18, a P/E/G ratio of 0.47 and a beta of 0.82. Harmony Biosciences Holdings, Inc. has a one year low of $26.47 and a one year high of $41.61. The business has a 50 day moving average price of $31.52 and a two-hundred day moving average price of $34.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.59 by $0.19. The firm 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 quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 earnings per share. On average, equities analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on HRMY. Needham & Company LLC reiterated a "buy" rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, May 6th. 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 target price on the stock. HC Wainwright reaffirmed a "buy" rating and set a $70.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, April 8th. UBS Group lowered their price target on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Mizuho raised their target price on Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price 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.