Massachusetts Financial Services Co. MA Grows Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Massachusetts Financial Services Co. MA boosted its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 27.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 660,391 shares of the company’s stock after purchasing an additional 140,690 shares during the period. Massachusetts Financial Services Co. MA owned about 1.16% of Harmony Biosciences worth $26,416,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HRMY. nVerses Capital LLC purchased a new position in Harmony Biosciences during the second quarter valued at $36,000. CWM LLC raised its holdings in Harmony Biosciences by 111.7% during the third quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after acquiring an additional 775 shares during the period. Quarry LP bought a new stake in Harmony Biosciences during the second quarter valued at about $62,000. Headlands Technologies LLC raised its holdings in Harmony Biosciences by 1,608.1% during the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after acquiring an additional 2,396 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Harmony Biosciences by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after acquiring an additional 360 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Trading Up 1.9 %

Shares of HRMY stock opened at $34.71 on Tuesday. Harmony Biosciences Holdings, Inc. has a 12-month low of $28.14 and a 12-month high of $41.61. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average price is $35.53 and its 200-day moving average price is $33.57. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 0.63 and a beta of 0.77.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company had revenue of $186.00 million for the quarter, compared to analysts’ expectations of $184.07 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. Equities research analysts predict that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 30.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HRMY shares. Cantor Fitzgerald raised their price target on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group started coverage on Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target on the stock. Mizuho raised their price target on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a report on Tuesday, October 29th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Harmony Biosciences in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Harmony Biosciences presently has an average rating of “Moderate Buy” and an average target price of $47.00.

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.