Federated Hermes Inc. Has $16.97 Million Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Federated Hermes Inc. grew its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 2,132.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 525,337 shares of the company's stock after buying an additional 501,809 shares during the period. Federated Hermes Inc. owned 0.90% of Harmony Biosciences worth $16,968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in HRMY. China Universal Asset Management Co. Ltd. raised its holdings in shares of Harmony Biosciences by 95.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,533 shares of the company's stock valued at $50,000 after buying an additional 748 shares during the last quarter. Oakworth Capital Inc. bought a new stake in Harmony Biosciences during the third quarter worth approximately $150,000. ELCO Management Co. LLC bought a new stake in Harmony Biosciences during the third quarter worth approximately $210,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Harmony Biosciences during the fourth quarter worth approximately $210,000. Finally, Raymond James & Associates bought a new stake in Harmony Biosciences during the third quarter worth approximately $216,000. Institutional investors own 86.23% of the company's stock.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Jeffrey Dierks sold 11,979 shares of Harmony Biosciences stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $32.00, for a total transaction of $383,328.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 30.80% of the company's stock.

Harmony Biosciences Trading Down 1.7 %

NASDAQ HRMY traded down $0.50 on Tuesday, hitting $28.85. 425,156 shares of the stock were exchanged, compared to its average volume of 374,446. Harmony Biosciences Holdings, Inc. has a 52-week low of $18.61 and a 52-week high of $39.26. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.75 and a quick ratio of 2.72. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 0.41 and a beta of 0.73. The company's 50-day moving average price is $31.68 and its two-hundred day moving average price is $30.01.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.29). Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The firm had revenue of $168.40 million for the quarter, compared to analysts' expectations of $168.90 million. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company's revenue for the quarter was up 31.3% on a year-over-year basis. Research analysts predict that Harmony Biosciences Holdings, Inc. will post 3 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Mizuho dropped their target price on Harmony Biosciences from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, February 27th. Needham & Company LLC reissued a "buy" rating and set a $50.00 target price on shares of Harmony Biosciences in a report on Tuesday, April 9th. Bank of America restated an "underperform" rating and issued a $30.00 price target on shares of Harmony Biosciences in a research report on Tuesday, January 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $49.00 price target on shares of Harmony Biosciences in a research report on Friday, April 12th. Finally, The Goldman Sachs Group lifted their price target on shares of Harmony Biosciences from $25.00 to $28.00 and gave the stock a "sell" rating in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $40.63.

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.