CIBC Private Wealth Group LLC Has $146,000 Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

CIBC Private Wealth Group LLC raised its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 66.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,214 shares of the company’s stock after acquiring an additional 1,681 shares during the period. CIBC Private Wealth Group LLC’s holdings in Harmony Biosciences were worth $146,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after buying an additional 436 shares in the last quarter. Mendota Financial Group LLC boosted its position in shares of Harmony Biosciences by 24,125.0% in the fourth 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 period. KBC Group NV grew its stake in shares of Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after acquiring an additional 819 shares in the last quarter. PNC Financial Services Group Inc. increased its position 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 worth $80,000 after acquiring an additional 519 shares during the period. Finally, Avanza Fonder AB acquired a new stake in Harmony Biosciences in the 4th quarter worth about $145,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on HRMY. Mizuho raised their target price on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, March 18th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, February 25th. HC Wainwright cut their target price on Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price target on the stock. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $53.33.

Harmony Biosciences Price Performance

Shares of HRMY stock opened at $28.40 on Tuesday. The company has a market cap of $1.63 billion, a P/E ratio of 13.46, a P/E/G ratio of 0.47 and a beta of 0.80. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a twelve month low of $27.33 and a twelve month high of $41.61. The business has a fifty day simple moving average of $35.10 and a 200 day simple moving average of $35.15.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly 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 company had revenue of $201.30 million during the quarter, compared to analysts’ expectations of $201.25 million. During the same period in the prior year, the company earned $0.45 EPS. Harmony Biosciences’s revenue was up 19.5% compared to the same quarter last year. On average, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Insider Activity

In other news, CFO Sandip Kapadia sold 1,775 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $38.05, for a total transaction of $67,538.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Dierks sold 1,123 shares of Harmony Biosciences stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is currently owned by corporate insiders.

Harmony Biosciences Company 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.