Man Group plc Boosts Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Man Group plc grew its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 37.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 214,113 shares of the company’s stock after buying an additional 58,642 shares during the period. Man Group plc’s holdings in Harmony Biosciences were worth $7,368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in HRMY. KBC Group NV grew its holdings in Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after acquiring an additional 819 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Harmony Biosciences by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock valued at $80,000 after acquiring an additional 519 shares during the period. Summit Investment Advisors Inc. lifted its position in Harmony Biosciences by 34.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,987 shares of the company’s stock valued at $137,000 after acquiring an additional 1,029 shares during the period. Avanza Fonder AB purchased a new position in Harmony Biosciences during the 4th quarter valued at about $145,000. Finally, CIBC Private Wealth Group LLC lifted its position in Harmony Biosciences by 66.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,214 shares of the company’s stock valued at $146,000 after acquiring an additional 1,681 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $49.00 price target on shares of Harmony Biosciences in a research note on Tuesday, May 6th. UBS Group reduced their price target on shares of Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Mizuho lifted their price target on shares of Harmony Biosciences from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Finally, Cantor Fitzgerald upgraded shares of Harmony Biosciences to a “strong-buy” rating in a research note on Tuesday, May 13th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $52.78.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY opened at $35.91 on Tuesday. The firm has a 50 day moving average of $31.50 and a 200 day moving average of $33.99. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. Harmony Biosciences Holdings, Inc. has a 12-month low of $26.47 and a 12-month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.19. The company had revenue of $184.73 million during the quarter, compared to analyst estimates of $184.26 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 earnings per share. On average, research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share 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.