JPMorgan Chase & Co. Purchases 93,622 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

JPMorgan Chase & Co. grew its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 68.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,428 shares of the company’s stock after buying an additional 93,622 shares during the quarter. JPMorgan Chase & Co.’s holdings in Harmony Biosciences were worth $9,217,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. boosted its holdings in shares of Harmony Biosciences by 0.6% during the second quarter. Pacer Advisors Inc. now owns 2,509,609 shares of the company’s stock worth $75,715,000 after purchasing an additional 14,695 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Harmony Biosciences by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company’s stock worth $28,871,000 after purchasing an additional 112,197 shares during the period. American Century Companies Inc. boosted its holdings in shares of Harmony Biosciences by 53.7% during the second quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock worth $20,562,000 after purchasing an additional 238,140 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Harmony Biosciences by 27.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock worth $26,416,000 after purchasing an additional 140,690 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Harmony Biosciences by 56.7% during the second quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock worth $17,975,000 after purchasing an additional 215,700 shares during the period. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Price Performance

HRMY stock opened at $36.45 on Tuesday. The firm has a 50 day moving average price of $34.15 and a 200-day moving average price of $34.70. Harmony Biosciences Holdings, Inc. has a 52-week low of $28.14 and a 52-week high of $41.61. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 0.60 and a beta of 0.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

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

Insider Activity at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 21,496 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 30.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Mizuho increased their target price on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. HC Wainwright initiated coverage on shares of Harmony Biosciences in a report on Tuesday, December 17th. They issued a “buy” rating and a $75.00 price objective for the company. Cantor Fitzgerald raised their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Raymond James restated an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a report on Monday. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $55.00.

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.