Connor Clark & Lunn Investment Management Ltd. Acquires 134,649 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Connor Clark & Lunn Investment Management Ltd. increased its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 117.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 248,859 shares of the company’s stock after purchasing an additional 134,649 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.43% of Harmony Biosciences worth $7,864,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in HRMY. New Vernon Capital Holdings II LLC raised its position in Harmony Biosciences by 3,219.0% in the 1st quarter. New Vernon Capital Holdings II LLC now owns 488,424 shares of the company’s stock worth $16,211,000 after purchasing an additional 473,708 shares during the period. LSV Asset Management grew its stake in shares of Harmony Biosciences by 25.0% during the first quarter. LSV Asset Management now owns 1,194,961 shares of the company’s stock valued at $39,661,000 after buying an additional 238,744 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Harmony Biosciences by 1,709.0% during the first quarter. Allianz Asset Management GmbH now owns 220,704 shares of the company’s stock valued at $7,325,000 after buying an additional 208,504 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Harmony Biosciences by 16.9% in the first quarter. American Century Companies Inc. now owns 1,288,787 shares of the company’s stock worth $42,775,000 after buying an additional 186,183 shares during the period. Finally, Woodline Partners LP bought a new stake in shares of Harmony Biosciences in the 1st quarter valued at about $6,035,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $33.54 on Thursday. Harmony Biosciences Holdings, Inc. has a 1 year low of $25.52 and a 1 year high of $40.93. The stock has a market capitalization of $1.93 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.45 and a beta of 0.85. The company’s 50-day moving average is $29.75 and its 200 day moving average is $32.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.75 and a quick ratio of 3.72.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.05). Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. The firm had revenue of $239.46 million for the quarter, compared to the consensus estimate of $222.68 million. On average, sell-side analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HRMY. HC Wainwright dropped their target price on Harmony Biosciences from $70.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, September 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, September 25th. Mizuho raised their target price on shares of Harmony Biosciences from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Wall Street Zen lowered shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Truist Financial started coverage on shares of Harmony Biosciences in a report on Monday, July 21st. They issued a “buy” rating and a $48.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Harmony Biosciences has an average rating of “Moderate Buy” and an average price target of $44.50.

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.