Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Holdings Boosted by Northern Trust Corp

Northern Trust Corp lifted its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 37.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,462 shares of the company's stock after acquiring an additional 110,345 shares during the quarter. Northern Trust Corp owned 0.71% of Harmony Biosciences worth $13,918,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of HRMY. Vanguard Group Inc. lifted its stake in Harmony Biosciences by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock valued at $162,883,000 after buying an additional 1,262,362 shares in the last quarter. Marshall Wace LLP increased its stake in Harmony Biosciences by 165.2% in the fourth quarter. Marshall Wace LLP now owns 929,744 shares of the company's stock valued at $31,992,000 after purchasing an additional 579,103 shares during the last quarter. Norges Bank acquired a new position in Harmony Biosciences in the fourth quarter valued at $16,118,000. Pacer Advisors Inc. boosted its stake in Harmony Biosciences by 18.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company's stock worth $78,452,000 after buying an additional 351,582 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Harmony Biosciences by 173.9% in the 4th quarter. Invesco Ltd. now owns 449,180 shares of the company's stock worth $15,456,000 after buying an additional 285,156 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Down 1.1%

Shares of Harmony Biosciences stock traded down $0.39 during trading hours on Wednesday, hitting $35.24. 26,814 shares of the company's stock traded hands, compared to its average volume of 593,510. The stock has a 50 day simple moving average of $31.56 and a 200-day simple moving average of $34.00. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The company has a market cap of $2.02 billion, a PE ratio of 16.74, a PEG ratio of 0.47 and a beta of 0.82. Harmony Biosciences Holdings, Inc. has a twelve month low of $26.47 and a twelve month high of $41.61.

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, beating the consensus estimate of $0.59 by $0.19. The company had revenue of $184.73 million during the quarter, compared to the consensus estimate of $184.26 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company's revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $0.67 earnings per share. Equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. HC Wainwright reissued a "buy" rating and issued a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Mizuho upped their price objective on Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Needham & Company LLC restated a "buy" rating and set a $49.00 price objective on shares of Harmony Biosciences in a report on Tuesday, May 6th. Cantor Fitzgerald upgraded Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, 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 target for the company. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price 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.