Pacer Advisors Inc. Grows Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Pacer Advisors Inc. increased its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 18.2% in the 4th quarter, Holdings Channel reports. The firm owned 2,279,918 shares of the company’s stock after purchasing an additional 351,582 shares during the period. Pacer Advisors Inc.’s holdings in Harmony Biosciences were worth $78,452,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HRMY. KBC Group NV raised its holdings in shares of Harmony Biosciences by 79.9% during the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after acquiring an additional 819 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Harmony Biosciences by 9.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 17,445 shares of the company’s stock worth $600,000 after purchasing an additional 1,550 shares in the last quarter. SG Americas Securities LLC raised its stake in Harmony Biosciences by 43.1% in the 4th quarter. SG Americas Securities LLC now owns 22,498 shares of the company’s stock valued at $774,000 after purchasing an additional 6,774 shares during the last quarter. ARS Investment Partners LLC purchased a new position in Harmony Biosciences in the 4th quarter valued at $841,000. Finally, Avanza Fonder AB purchased a new stake in shares of Harmony Biosciences during the fourth quarter worth $145,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Price Performance

Shares of HRMY opened at $38.01 on Monday. The company’s 50-day moving average price is $34.86 and its 200 day moving average price is $35.12. Harmony Biosciences Holdings, Inc. has a 12-month low of $28.14 and a 12-month high of $41.61. 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 cap of $2.17 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 0.51 and a beta of 0.78.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. The business had revenue of $186.00 million for the quarter, compared to the consensus estimate of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. On average, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Insider Activity

In other news, insider Jeffrey Dierks sold 1,123 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Sandip Kapadia sold 25,000 shares of Harmony Biosciences stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total value of $1,004,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,419 shares of company stock valued at $3,082,455. 30.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HRMY has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of Harmony Biosciences in a research report on Monday. 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. Mizuho boosted their price objective 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 target price on shares of Harmony Biosciences in a research note on Monday, January 13th. Finally, Cantor Fitzgerald lifted their price target on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Harmony Biosciences presently has an average rating of “Buy” and an average target price of $55.00.

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.