Connor Clark & Lunn Investment Management Ltd. Makes New $3.79 Million Investment in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 114,210 shares of the company’s stock, valued at approximately $3,791,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.20% of Harmony Biosciences at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in shares of Harmony Biosciences during the first quarter worth $29,000. GF Fund Management CO. LTD. bought a new stake in shares of Harmony Biosciences during the fourth quarter worth $41,000. CWM LLC grew its holdings in shares of Harmony Biosciences by 34.8% during the first quarter. CWM LLC now owns 2,704 shares of the company’s stock worth $90,000 after purchasing an additional 698 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Harmony Biosciences by 222.9% during the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company’s stock worth $97,000 after purchasing an additional 2,022 shares during the last quarter. Finally, Virtus Investment Advisers Inc. bought a new stake in shares of Harmony Biosciences during the fourth quarter worth $124,000. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Shares of HRMY opened at $36.67 on Thursday. The company has a current ratio of 3.84, a quick ratio of 3.80 and a debt-to-equity ratio of 0.20. Harmony Biosciences Holdings, Inc. has a 1 year low of $26.47 and a 1 year high of $41.61. The stock has a market cap of $2.11 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 0.42 and a beta of 0.84. The stock’s 50-day moving average price is $34.18 and its two-hundred day moving average price is $33.79.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.10). Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%. The company had revenue of $200.49 million for the quarter, compared to the consensus estimate of $204.37 million. During the same quarter last year, the business posted $1.05 EPS. Harmony Biosciences’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HRMY has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on Harmony Biosciences in a report on Thursday, July 10th. They set a “neutral” rating and a $33.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $49.00 price target on shares of Harmony Biosciences in a report on Tuesday, May 6th. Wall Street Zen cut Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Truist Financial assumed coverage on Harmony Biosciences in a report on Monday, July 21st. They issued a “buy” rating and a $48.00 price target on the stock. Finally, Cantor Fitzgerald upgraded Harmony Biosciences to a “strong-buy” rating in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.00.

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.