Graham Capital Management L.P. Acquires Shares of 14,690 Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Graham Capital Management L.P. purchased a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,690 shares of the company's stock, valued at approximately $505,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. KBC Group NV lifted its holdings 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 purchasing an additional 819 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Harmony Biosciences by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock worth $80,000 after buying an additional 519 shares during the period. Summit Investment Advisors Inc. lifted its stake in Harmony Biosciences by 34.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,987 shares of the company's stock valued at $137,000 after buying an additional 1,029 shares during the last quarter. Avanza Fonder AB purchased a new stake in Harmony Biosciences in the fourth quarter valued at approximately $145,000. Finally, CIBC Private Wealth Group LLC grew its position in shares of Harmony Biosciences by 66.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,214 shares of the company's stock worth $146,000 after acquiring an additional 1,681 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Trading Up 2.4%

NASDAQ:HRMY traded up $0.84 during mid-day trading on Monday, reaching $35.91. The company's stock had a trading volume of 523,848 shares, compared to its average volume of 594,411. The company's fifty day simple moving average is $31.45 and its two-hundred day simple moving average is $33.97. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. Harmony Biosciences Holdings, Inc. has a twelve month low of $26.47 and a twelve month high of $41.61. The stock has a market cap of $2.06 billion, a P/E ratio of 17.02, a P/E/G ratio of 0.47 and a beta of 0.82.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $184.26 million. During the same period last year, the company earned $0.67 EPS. The firm's quarterly revenue was up 19.5% on a year-over-year basis. 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. Cantor Fitzgerald upgraded shares of Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. UBS Group reduced their price objective on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target for the company. Needham & Company LLC restated a "buy" rating and issued a $49.00 target price on shares of Harmony Biosciences in a report on Tuesday, May 6th. Finally, Mizuho raised their price target on shares of Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research note on Thursday. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Harmony Biosciences currently 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.