Invesco Ltd. Buys 285,156 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Invesco Ltd. raised its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 173.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 449,180 shares of the company's stock after buying an additional 285,156 shares during the period. Invesco Ltd. owned about 0.79% of Harmony Biosciences worth $15,456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of HRMY. Vanguard Group Inc. increased its holdings in Harmony Biosciences by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock valued at $162,883,000 after purchasing an additional 1,262,362 shares in the last quarter. Norges Bank bought a new stake in Harmony Biosciences during the 4th quarter worth about $16,118,000. Pacer Advisors Inc. increased its position in Harmony Biosciences by 18.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company's stock valued at $78,452,000 after acquiring an additional 351,582 shares in the last quarter. American Century Companies Inc. increased its position in Harmony Biosciences by 28.7% in the 4th quarter. American Century Companies Inc. now owns 1,102,604 shares of the company's stock valued at $37,941,000 after acquiring an additional 246,140 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Harmony Biosciences in the fourth quarter worth about $6,042,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Trading Down 0.1 %

NASDAQ:HRMY traded down $0.02 during mid-day trading on Friday, hitting $29.41. The company had a trading volume of 75,250 shares, compared to its average volume of 575,716. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $26.47 and a fifty-two week high of $41.61. The firm has a market cap of $1.69 billion, a P/E ratio of 13.94, a P/E/G ratio of 0.47 and a beta of 0.80. The business's fifty day moving average is $32.15 and its two-hundred day moving average is $34.30.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $201.30 million for the quarter, compared to the consensus estimate of $201.25 million. During the same period last year, the company posted $0.45 EPS. Harmony Biosciences's revenue for the quarter was up 19.5% on a year-over-year basis. As a group, research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Sandip Kapadia sold 1,775 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $38.05, for a total value of $67,538.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Dierks sold 1,629 shares of the firm's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $38.02, for a total value of $61,934.58. The disclosure for this sale can be found here. Company insiders own 23.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on HRMY shares. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price target on shares of Harmony Biosciences in a report on Tuesday, April 8th. Mizuho boosted their target price on Harmony Biosciences from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 18th. HC Wainwright reiterated a "buy" rating and issued a $70.00 price target on shares of Harmony Biosciences in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued 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 company has a consensus rating of "Buy" and an average price target of $53.33.

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.