First Trust Advisors LP Acquires 121,810 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

First Trust Advisors LP increased its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 255.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 169,409 shares of the company's stock after buying an additional 121,810 shares during the period. First Trust Advisors LP owned 0.30% of Harmony Biosciences worth $5,829,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of HRMY. GAMMA Investing LLC boosted its holdings in shares of Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company's stock valued at $31,000 after purchasing an additional 436 shares in the last quarter. Mendota Financial Group LLC boosted its stake in Harmony Biosciences by 24,125.0% in the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock valued at $33,000 after buying an additional 965 shares in the last quarter. KBC Group NV boosted its stake in Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company's stock valued at $63,000 after buying an additional 819 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Harmony Biosciences by 28.7% in the fourth 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 last quarter. Finally, Summit Investment Advisors Inc. raised its stake in Harmony Biosciences by 34.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,987 shares of the company's stock worth $137,000 after acquiring an additional 1,029 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HRMY. Mizuho lifted their price target on shares of Harmony Biosciences from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Tuesday, March 18th. HC Wainwright reaffirmed a "buy" rating and set a $70.00 target price 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. UBS Group reduced their price objective on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $49.00 target price on shares of Harmony Biosciences in a research report on Tuesday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $52.33.

Harmony Biosciences Trading Up 6.7 %

NASDAQ:HRMY traded up $2.02 on Tuesday, reaching $31.98. 350,170 shares of the stock traded hands, compared to its average volume of 575,166. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. Harmony Biosciences Holdings, Inc. has a 1-year low of $26.47 and a 1-year high of $41.61. 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 company's 50 day moving average is $31.34 and its 200-day moving average is $34.04.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its 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 net margin of 17.98% and a return on equity of 23.16%. 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. Equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS 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.