GAMMA Investing LLC Increases Stock Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

GAMMA Investing LLC grew its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 92.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 907 shares of the company’s stock after buying an additional 436 shares during the period. GAMMA Investing LLC’s holdings in Harmony Biosciences were worth $31,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HRMY. Citigroup Inc. increased its position in Harmony Biosciences by 9.8% during the 3rd quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock valued at $7,114,000 after buying an additional 15,859 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Harmony Biosciences by 364.0% in the third quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock worth $3,199,000 after acquiring an additional 62,729 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Harmony Biosciences by 137.6% during the third quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock valued at $1,429,000 after acquiring an additional 20,689 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Harmony Biosciences by 145.4% during the second quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after acquiring an additional 181,092 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Harmony Biosciences by 56.7% in the 2nd 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 last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jeffrey Dierks sold 21,496 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was 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 SEC, which can be accessed through the SEC website. Corporate insiders own 30.80% of the company’s stock.

Harmony Biosciences Price Performance

Shares of HRMY opened at $36.42 on Wednesday. The stock has a market capitalization of $2.08 billion, a PE ratio of 17.26, a PEG ratio of 0.60 and a beta of 0.78. The company has a 50 day moving average price of $34.21 and a 200-day moving average price of $34.74. 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 Holdings, Inc. has a fifty-two week low of $28.14 and a fifty-two week high of $41.61.

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

Wall Street Analysts Forecast Growth

HRMY has been the subject of a number of analyst reports. Mizuho raised their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Monday. Cantor Fitzgerald boosted 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. HC Wainwright began coverage on Harmony Biosciences in a research note on Tuesday, December 17th. They set a “buy” rating and a $75.00 target price on the stock. Finally, Raymond James restated an “outperform” rating and issued a $40.00 price target on shares of Harmony Biosciences in a research note on Thursday, October 10th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $55.00.

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.