Adage Capital Partners GP L.L.C. Purchases 200,000 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Adage Capital Partners GP L.L.C. raised its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 66.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 500,000 shares of the company’s stock after acquiring an additional 200,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.88% of Harmony Biosciences worth $17,205,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of HRMY. JPMorgan Chase & Co. boosted its position in shares of Harmony Biosciences by 68.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock valued at $9,217,000 after purchasing an additional 93,622 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Harmony Biosciences by 28.2% during the 4th quarter. Swiss National Bank now owns 78,200 shares of the company’s stock worth $2,691,000 after buying an additional 17,200 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Harmony Biosciences by 50.6% during the 4th quarter. Teacher Retirement System of Texas now owns 11,801 shares of the company’s stock worth $406,000 after buying an additional 3,964 shares during the period. Vanguard Group Inc. increased its stake in shares of Harmony Biosciences by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock valued at $162,883,000 after acquiring an additional 1,262,362 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Harmony Biosciences by 110.9% during the 3rd quarter. Barclays PLC now owns 76,862 shares of the company’s stock valued at $3,074,000 after acquiring an additional 40,416 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Stock Up 0.6 %

Shares of NASDAQ:HRMY opened at $29.61 on Friday. The business’s 50 day moving average is $31.96 and its 200 day moving average is $34.27. Harmony Biosciences Holdings, Inc. has a 12-month low of $26.47 and a 12-month high of $41.61. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.47 and a beta of 0.80. 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 posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 17.98% and a return on equity of 23.16%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 EPS. On average, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on HRMY. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Harmony Biosciences in a report on Tuesday, April 8th. Mizuho boosted their target price on Harmony Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $70.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $53.33.

Insider Buying and Selling

In other news, CFO Sandip Kapadia sold 1,775 shares of the business’s 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 accessible through this hyperlink. Also, insider Jeffrey Dierks sold 1,629 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $38.02, for a total value of $61,934.58. The disclosure for this sale can be found here. 23.60% of the stock is owned by corporate insiders.

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.