Adage Capital Partners GP L.L.C. Raises Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Adage Capital Partners GP L.L.C. boosted its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 66.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 500,000 shares of the company’s stock after purchasing an additional 200,000 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Harmony Biosciences were worth $17,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after acquiring an additional 436 shares during the last quarter. Mendota Financial Group LLC increased its stake in shares of Harmony Biosciences by 24,125.0% in the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after purchasing an additional 965 shares in the last quarter. KBC Group NV raised its position in shares of Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after purchasing an additional 819 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Harmony Biosciences by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock valued at $80,000 after buying an additional 519 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Harmony Biosciences by 34.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,987 shares of the company’s stock valued at $137,000 after buying an additional 1,029 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Stock Up 0.6 %

Shares of NASDAQ HRMY opened at $29.61 on Friday. The business has a 50-day moving average of $31.96 and a 200-day moving average of $34.27. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.47 and a beta of 0.80. 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.

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

Insider Activity at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 1,629 shares of the business’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandip Kapadia sold 1,775 shares of the stock in a transaction on Monday, January 27th. The shares were 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. 23.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Mizuho boosted their target price on shares of Harmony Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, March 18th. 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. HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target on the stock. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target 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.