Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC boosted its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 24.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 356,072 shares of the company’s stock after buying an additional 69,886 shares during the quarter. Voloridge Investment Management LLC’s holdings in Harmony Biosciences were worth $12,252,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Harmony Biosciences by 1.9% in the 4th quarter. FMR LLC now owns 5,329,902 shares of the company’s stock valued at $183,402,000 after buying an additional 101,182 shares during the period. Vanguard Group Inc. grew its holdings in Harmony Biosciences by 36.4% in the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock valued at $162,883,000 after purchasing an additional 1,262,362 shares during the period. Pacer Advisors Inc. increased its position in Harmony Biosciences by 18.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock worth $78,452,000 after purchasing an additional 351,582 shares during the last quarter. Deep Track Capital LP purchased a new position in Harmony Biosciences during the fourth quarter worth approximately $49,894,000. Finally, Dimensional Fund Advisors LP raised its stake in Harmony Biosciences by 15.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company’s stock worth $41,739,000 after purchasing an additional 160,490 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Price Performance

HRMY stock opened at $34.17 on Friday. The firm has a market cap of $1.96 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. Harmony Biosciences Holdings, Inc. has a 1 year low of $26.47 and a 1 year high of $41.61. The stock has a 50-day simple moving average of $31.58 and a 200-day simple moving average of $34.02.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. The company had revenue of $184.73 million for 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 business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 earnings per share. On average, equities analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $49.00 price objective on shares of Harmony Biosciences in a report on Tuesday, May 6th. Cantor Fitzgerald raised Harmony Biosciences to a “strong-buy” rating in a research report on Tuesday, May 13th. Mizuho raised their price objective on Harmony Biosciences from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. HC Wainwright reiterated a “buy” rating and set a $70.00 target price on shares of Harmony Biosciences in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 target price for the company. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $52.78.

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.