Algert Global LLC Grows Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Algert Global LLC boosted its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 153.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 230,908 shares of the company's stock after purchasing an additional 139,967 shares during the quarter. Algert Global LLC owned approximately 0.40% of Harmony Biosciences worth $7,946,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HRMY. Hillsdale Investment Management Inc. boosted its holdings in Harmony Biosciences by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 68,000 shares of the company's stock worth $2,340,000 after acquiring an additional 300 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Harmony Biosciences by 2.1% in the 4th 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. GAMMA Investing LLC grew its position in Harmony Biosciences by 92.6% during the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company's stock worth $31,000 after purchasing an additional 436 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in 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 purchasing an additional 519 shares in the last quarter. Finally, Aviva PLC raised its holdings in shares of Harmony Biosciences by 3.9% in the fourth quarter. Aviva PLC now owns 18,072 shares of the company's stock worth $622,000 after buying an additional 686 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HRMY shares. HC Wainwright reissued a "buy" rating and issued a $70.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price objective 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 report on Tuesday. UBS Group reduced their price target on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Finally, Mizuho upped their price objective 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. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $52.33.

Harmony Biosciences Stock Performance

Shares of HRMY traded down $0.04 during trading hours on Friday, hitting $34.05. The stock had a trading volume of 527,947 shares, compared to its average volume of 587,329. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.47 and a beta of 0.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The firm has a 50-day moving average price of $31.38 and a 200 day moving average price of $34.01. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $26.47 and a fifty-two week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.19. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $184.73 million for the quarter, compared to analyst estimates of $184.26 million. During the same period in the prior year, the company posted $0.67 EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. As a group, research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Harmony Biosciences 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.