Nisa Investment Advisors LLC Increases Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Nisa Investment Advisors LLC grew its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 8,867.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,560 shares of the company’s stock after acquiring an additional 5,498 shares during the period. Nisa Investment Advisors LLC’s holdings in Harmony Biosciences were worth $222,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HRMY. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 worth $80,000 after acquiring an additional 360 shares during the period. Texas Permanent School Fund Corp grew its holdings in Harmony Biosciences by 1.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock valued at $964,000 after buying an additional 517 shares in the last quarter. ProShare Advisors LLC raised its stake in Harmony Biosciences by 7.0% during the first quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock valued at $352,000 after purchasing an additional 684 shares in the last quarter. Profund Advisors LLC raised its position in shares of Harmony Biosciences by 11.1% during the 2nd 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. Finally, CWM LLC boosted its holdings in shares of Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after purchasing an additional 775 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HRMY shares. Mizuho increased their target price 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. Cantor Fitzgerald increased their price objective 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. Needham & Company LLC restated a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Oppenheimer reiterated an “outperform” rating and issued a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Finally, UBS Group initiated coverage on Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Harmony Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Insiders Place Their Bets

In other news, insider Jeffrey Dierks sold 21,496 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total value 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 company insiders.

Harmony Biosciences Stock Up 2.6 %

Shares of NASDAQ:HRMY opened at $34.29 on Thursday. The business’s 50 day moving average is $36.17 and its 200 day moving average is $33.24. The stock has a market cap of $1.96 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 0.61 and a beta of 0.77. Harmony Biosciences Holdings, Inc. has a 52-week low of $22.89 and a 52-week high of $41.61. 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 (NASDAQ:HRMY) last issued its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.15. The business had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 EPS. Sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 2.36 EPS 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.