ARS Investment Partners LLC Buys New Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

ARS Investment Partners LLC bought a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,440 shares of the company’s stock, valued at approximately $841,000.

Several other institutional investors also recently modified their holdings of HRMY. GAMMA Investing LLC raised its stake in shares of Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after buying an additional 436 shares during the period. Mendota Financial Group LLC boosted its holdings in shares of Harmony Biosciences by 24,125.0% in the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after purchasing an additional 965 shares during the period. CWM LLC boosted its holdings in shares of Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after purchasing an additional 775 shares during the period. Quantbot Technologies LP bought a new stake in shares of Harmony Biosciences during the 3rd quarter worth approximately $74,000. Finally, Quarry LP bought a new stake in shares of Harmony Biosciences during the 2nd quarter worth approximately $62,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Trading Up 1.3 %

Shares of Harmony Biosciences stock opened at $39.05 on Tuesday. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $28.14 and a fifty-two week high of $41.61. The firm has a market cap of $2.23 billion, a PE ratio of 18.51, a P/E/G ratio of 0.54 and a beta of 0.78. The business’s fifty day moving average is $34.46 and its two-hundred day moving average is $34.96. 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 announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.15. The firm had revenue of $186.00 million during the quarter, compared to the consensus estimate of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. Analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HRMY. Mizuho boosted their target price on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a report on Monday, January 13th. HC Wainwright reissued a “buy” rating and set a $75.00 target price on shares of Harmony Biosciences in a report on Thursday, January 16th. Cantor Fitzgerald increased their target price on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Oppenheimer restated an “outperform” rating and issued a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $55.00.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Jeffrey Dierks sold 10,507 shares of Harmony Biosciences stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $37.01, for a total value of $388,864.07. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 30.80% of the stock is currently owned by corporate insiders.

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.