Hillsdale Investment Management Inc. Increases Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Hillsdale Investment Management Inc. raised its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 0.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 68,000 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Hillsdale Investment Management Inc. owned 0.12% of Harmony Biosciences worth $2,340,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. raised its holdings in Harmony Biosciences by 28.7% during the 4th quarter. American Century Companies Inc. now owns 1,102,604 shares of the company’s stock valued at $37,941,000 after buying an additional 246,140 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Harmony Biosciences by 219.8% in the fourth quarter. Quantbot Technologies LP now owns 5,926 shares of the company’s stock valued at $204,000 after acquiring an additional 4,073 shares during the period. Summit Global Investments raised its stake in shares of Harmony Biosciences by 57.2% during the fourth quarter. Summit Global Investments now owns 30,290 shares of the company’s stock valued at $1,042,000 after acquiring an additional 11,027 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Harmony Biosciences by 26.7% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,157 shares of the company’s stock worth $281,000 after purchasing an additional 1,718 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of Harmony Biosciences by 50.6% in the fourth quarter. Teacher Retirement System of Texas now owns 11,801 shares of the company’s stock worth $406,000 after purchasing an additional 3,964 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Insider Buying and Selling at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 1,629 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $38.02, for a total transaction of $61,934.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey M. Dayno sold 19,293 shares of Harmony Biosciences stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total transaction of $774,228.09. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,452 shares of company stock worth $2,831,679. 30.80% of the stock is owned by insiders.

Analyst Ratings Changes

HRMY has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target for the company. Mizuho raised their price target on Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 18th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, February 25th. Finally, HC Wainwright dropped their target price on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $53.33.

Harmony Biosciences Stock Up 1.1 %

Shares of Harmony Biosciences stock opened at $35.28 on Friday. Harmony Biosciences Holdings, Inc. has a 1 year low of $28.14 and a 1 year high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The company has a 50-day moving average of $36.42 and a 200 day moving average of $35.58. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.47 and a beta of 0.82.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $201.30 million during the quarter, compared to analyst estimates of $201.25 million. During the same period last year, the business earned $0.45 earnings per share. The business’s revenue was up 19.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

About Harmony Biosciences

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.