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

First Trust Advisors LP grew its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 255.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 169,409 shares of the company's stock after acquiring 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 SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in shares of Harmony Biosciences in the fourth quarter worth about $268,000. Marshall Wace LLP boosted its position in shares of Harmony Biosciences by 165.2% in the fourth quarter. Marshall Wace LLP now owns 929,744 shares of the company's stock worth $31,992,000 after purchasing an additional 579,103 shares during the period. Barclays PLC increased its stake in shares of Harmony Biosciences by 31.2% in the fourth quarter. Barclays PLC now owns 100,872 shares of the company's stock worth $3,471,000 after purchasing an additional 24,010 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of Harmony Biosciences by 34.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,987 shares of the company's stock valued at $137,000 after purchasing an additional 1,029 shares during the period. Finally, LSV Asset Management lifted its stake in shares of Harmony Biosciences by 23.8% during the 4th quarter. LSV Asset Management now owns 956,217 shares of the company's stock valued at $32,903,000 after buying an additional 184,026 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Trading Down 0.0 %

Harmony Biosciences stock traded down $0.01 during midday trading on Monday, reaching $30.32. The stock had a trading volume of 366,812 shares, compared to its average volume of 574,023. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The company has a fifty day moving average of $31.41 and a 200 day moving average of $34.08. Harmony Biosciences Holdings, Inc. has a 52-week low of $26.47 and a 52-week high of $41.61. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. During the same period last year, the company earned $0.45 earnings per share. The business's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. UBS Group lowered 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. HC Wainwright reaffirmed a "buy" rating and set a $70.00 price objective on shares of Harmony Biosciences in a report on Tuesday, April 8th. Mizuho boosted their target price on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Tuesday, March 18th. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 price target on shares of Harmony Biosciences in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They set a "buy" rating and a $55.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $52.44.

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.