Intech Investment Management LLC Acquires 2,138 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Intech Investment Management LLC boosted its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 22.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,847 shares of the company’s stock after purchasing an additional 2,138 shares during the quarter. Intech Investment Management LLC’s holdings in Harmony Biosciences were worth $408,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after buying an additional 436 shares during the last quarter. Mendota Financial Group LLC increased its holdings in Harmony Biosciences by 24,125.0% in the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after acquiring an additional 965 shares during the last quarter. KBC Group NV lifted its stake in 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 purchasing an additional 819 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Harmony Biosciences during the 3rd quarter valued at about $74,000. Finally, PNC Financial Services Group Inc. boosted its stake in Harmony Biosciences by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock valued at $80,000 after buying an additional 519 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HRMY has been the topic of a number of research reports. HC Wainwright reduced their price objective on Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price on the stock. Finally, Mizuho increased their price target on shares of Harmony Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, March 18th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $53.33.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Jeffrey Dierks sold 1,123 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total value of $44,920.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sandip Kapadia sold 1,775 shares of Harmony Biosciences stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $38.05, for a total transaction of $67,538.75. The disclosure for this sale can be found here. Insiders have sold a total of 72,452 shares of company stock worth $2,831,679 over the last quarter. Company insiders own 30.80% of the company’s stock.

Harmony Biosciences Price Performance

HRMY stock opened at $32.99 on Wednesday. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a 12 month low of $28.14 and a 12 month high of $41.61. The stock has a market cap of $1.89 billion, a PE ratio of 15.64, a P/E/G ratio of 0.47 and a beta of 0.82. The company has a 50-day moving average price of $36.31 and a 200 day moving average price of $35.55.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $201.25 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis. Equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

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.