Trexquant Investment LP Makes New Investment in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Trexquant Investment LP acquired a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 175,574 shares of the company’s stock, valued at approximately $6,042,000. Trexquant Investment LP owned 0.31% of Harmony Biosciences at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Harmony Biosciences by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock worth $162,883,000 after buying an additional 1,262,362 shares in the last quarter. Pacer Advisors Inc. raised its stake in Harmony Biosciences by 18.2% during the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock valued at $78,452,000 after purchasing an additional 351,582 shares during the period. American Century Companies Inc. raised its stake 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 purchasing an additional 246,140 shares during the period. Geode Capital Management LLC boosted its stake in Harmony Biosciences by 22.8% in the 4th quarter. Geode Capital Management LLC now owns 902,934 shares of the company’s stock worth $31,077,000 after purchasing an additional 167,516 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Harmony Biosciences by 27.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,028 shares of the company’s stock worth $16,242,000 after purchasing an additional 100,586 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Trading Down 5.5 %

Shares of NASDAQ HRMY opened at $29.26 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 business’s 50 day moving average is $35.30 and its two-hundred day moving average is $35.28. The stock has a market capitalization of $1.68 billion, a P/E ratio of 13.87, a PEG ratio of 0.47 and a beta of 0.80.

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

Analysts Set New Price Targets

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

Insider Transactions at Harmony Biosciences

In other news, CFO Sandip Kapadia sold 1,775 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $38.05, for a total value of $67,538.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey Dierks sold 1,123 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total value of $44,920.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,452 shares of company stock worth $2,831,679. 30.80% of the stock is currently 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.