Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Position Boosted by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 36.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,733,609 shares of the company's stock after acquiring an additional 1,262,362 shares during the period. Vanguard Group Inc. owned about 8.30% of Harmony Biosciences worth $162,883,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of HRMY. GAMMA Investing LLC grew its stake in Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company's stock worth $31,000 after purchasing an additional 436 shares in the last quarter. Mendota Financial Group LLC lifted its holdings in Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock worth $33,000 after buying an additional 965 shares during the last quarter. KBC Group NV grew its position 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 worth $63,000 after acquiring an additional 819 shares in the last quarter. PNC Financial Services Group Inc. grew its position 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 worth $80,000 after acquiring an additional 519 shares in the last quarter. Finally, Avanza Fonder AB bought a new stake in shares of Harmony Biosciences in the 4th quarter valued at approximately $145,000. Institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Performance

Shares of HRMY traded up $0.18 during mid-day trading on Friday, reaching $29.17. 827,269 shares of the company's stock traded hands, compared to its average volume of 568,427. 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 business's 50-day moving average price is $33.89 and its 200-day moving average price is $34.80. The stock has a market capitalization of $1.67 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. Harmony Biosciences Holdings, Inc. has a 12 month low of $26.47 and a 12 month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, beating 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 firm had revenue of $201.30 million for the quarter, compared to the consensus estimate of $201.25 million. During the same quarter in the previous year, the business earned $0.45 EPS. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. Equities analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Analysts Set New Price Targets

HRMY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They set a "buy" rating and a $55.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price target on shares of Harmony Biosciences in a report on Tuesday. HC Wainwright reiterated a "buy" rating and set a $70.00 price objective on shares of Harmony Biosciences in a research note on Tuesday. Finally, Mizuho lifted their target price on Harmony Biosciences from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Tuesday, March 18th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $53.33.

Insider Buying and Selling

In other Harmony Biosciences news, CFO Sandip Kapadia sold 25,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total transaction of $1,004,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock valued at $2,831,679 over the last 90 days. 30.80% of the stock is currently owned by company insiders.

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.