Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Acquired by Denali Advisors LLC

Denali Advisors LLC grew its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 102.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,314 shares of the company’s stock after purchasing an additional 52,814 shares during the period. Denali Advisors LLC owned approximately 0.18% of Harmony Biosciences worth $3,589,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 436 shares in the last quarter. Mendota Financial Group LLC raised its holdings in shares of Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after buying an additional 965 shares during the period. KBC Group NV raised its holdings in shares of Harmony Biosciences by 79.9% during the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after buying an additional 819 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Harmony Biosciences during the 3rd quarter valued at about $74,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Harmony Biosciences by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after buying an additional 360 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Sandip Kapadia sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total transaction of $1,004,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Dierks sold 1,123 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total value of $44,920.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,452 shares of company stock worth $2,831,679. 30.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Mizuho dropped their target price on Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a report on Tuesday, February 11th. They set a “buy” rating and a $55.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $75.00 price objective on shares of Harmony Biosciences in a report on Wednesday, February 19th. Oppenheimer restated an “outperform” rating and set a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a report on Tuesday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $53.67.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $37.01 on Wednesday. Harmony Biosciences Holdings, Inc. has a twelve month low of $28.14 and a twelve 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 company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The business has a 50 day simple moving average of $36.59 and a 200-day simple moving average of $35.81.

Harmony Biosciences (NASDAQ:HRMY) last issued 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 return on equity of 23.16% and a net margin of 17.98%. The business had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. During the same period in the previous year, the business earned $0.45 EPS. The business’s quarterly revenue was up 19.5% on a year-over-year basis. As a group, equities research analysts expect 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.