Intech Investment Management LLC Buys Shares of 9,709 Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Intech Investment Management LLC bought a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 9,709 shares of the company’s stock, valued at approximately $388,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position 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 buying an additional 360 shares in the last quarter. Profund Advisors LLC lifted its position in Harmony Biosciences by 11.1% during the second quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock valued at $228,000 after buying an additional 758 shares in the last quarter. CWM LLC lifted its position 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 buying an additional 775 shares in the last quarter. Summit Global Investments lifted its position in shares of Harmony Biosciences by 4.2% during the second quarter. Summit Global Investments now owns 20,164 shares of the company’s stock worth $608,000 after purchasing an additional 807 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Harmony Biosciences by 0.7% during the second quarter. AQR Capital Management LLC now owns 154,345 shares of the company’s stock worth $4,657,000 after purchasing an additional 1,116 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Raymond James reissued an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a research report on Thursday, October 10th. Cantor Fitzgerald boosted their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Mizuho boosted their target price on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Oppenheimer reissued an “outperform” rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research note on Tuesday, October 29th. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Harmony Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Harmony Biosciences Stock Down 1.8 %

HRMY stock opened at $34.50 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. Harmony Biosciences Holdings, Inc. has a 1-year low of $28.14 and a 1-year high of $41.61. The firm has a fifty day moving average price of $35.03 and a two-hundred day moving average price of $33.83. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.65 and a beta of 0.79.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $186.00 million during the quarter, compared to analyst estimates of $184.07 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. Research analysts predict that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current year.

Insider Buying and Selling at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 30.80% of the stock is owned by insiders.

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.