Dark Forest Capital Management LP Takes Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Dark Forest Capital Management LP purchased a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,575 shares of the company’s stock, valued at approximately $536,000.

A number of other hedge funds also recently bought and sold shares of HRMY. Vanguard Group Inc. grew its holdings in shares of Harmony Biosciences by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock valued at $162,883,000 after buying an additional 1,262,362 shares during the last quarter. Marshall Wace LLP boosted its stake in Harmony Biosciences by 165.2% during the 4th quarter. Marshall Wace LLP now owns 929,744 shares of the company’s stock valued at $31,992,000 after purchasing an additional 579,103 shares during the last quarter. Norges Bank bought a new stake in shares of Harmony Biosciences in the 4th quarter worth $16,118,000. Pacer Advisors Inc. raised its stake in shares of Harmony Biosciences by 18.2% in 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. Finally, Invesco Ltd. lifted its holdings in shares of Harmony Biosciences by 173.9% during the fourth quarter. Invesco Ltd. now owns 449,180 shares of the company’s stock valued at $15,456,000 after purchasing an additional 285,156 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Up 0.6 %

Shares of HRMY stock opened at $29.61 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a 12 month low of $26.47 and a 12 month high of $41.61. The stock has a market cap of $1.70 billion, a P/E ratio of 14.03, a P/E/G ratio of 0.47 and a beta of 0.80. The company has a 50 day simple moving average of $31.96 and a two-hundred day simple moving average of $34.26.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. The firm had revenue of $201.30 million during the quarter, compared to analyst estimates of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. Harmony Biosciences’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. On average, research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jeffrey Dierks sold 1,629 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $38.02, for a total value of $61,934.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandip Kapadia sold 1,775 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $38.05, for a total transaction of $67,538.75. The disclosure for this sale can be found here. Company insiders own 23.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HRMY. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Harmony Biosciences in a report on Tuesday, April 8th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a report on Tuesday, April 8th. Mizuho raised their target price on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price for the company. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Harmony Biosciences currently has an average rating of “Buy” and a consensus target price of $53.33.

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.