Connor Clark & Lunn Investment Management Ltd. Buys 134,649 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Connor Clark & Lunn Investment Management Ltd. grew its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 117.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 248,859 shares of the company’s stock after acquiring an additional 134,649 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Harmony Biosciences were worth $7,864,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Harmony Biosciences by 15.6% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock worth $70,000 after purchasing an additional 299 shares in the last quarter. Gallacher Capital Management LLC raised its holdings in Harmony Biosciences by 4.3% in the second quarter. Gallacher Capital Management LLC now owns 9,981 shares of the company’s stock worth $315,000 after buying an additional 413 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Harmony Biosciences by 0.4% in the first quarter. Rhumbline Advisers now owns 109,073 shares of the company’s stock worth $3,620,000 after buying an additional 485 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of Harmony Biosciences by 1.6% during the second quarter. New York State Teachers Retirement System now owns 32,293 shares of the company’s stock valued at $1,020,000 after buying an additional 500 shares during the last quarter. Finally, CWM LLC increased its position in shares of Harmony Biosciences by 34.8% during the first quarter. CWM LLC now owns 2,704 shares of the company’s stock valued at $90,000 after acquiring an additional 698 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Trading Up 1.7%

Harmony Biosciences stock opened at $33.54 on Thursday. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $40.93. The company has a market cap of $1.93 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.45 and a beta of 0.85. The company has a quick ratio of 3.72, a current ratio of 3.75 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $29.75 and a two-hundred day simple moving average of $32.79.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The business had revenue of $239.46 million during the quarter, compared to analysts’ expectations of $222.68 million. Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%. Analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC lowered their price objective on Harmony Biosciences from $48.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Mizuho boosted their price target on Harmony Biosciences from $36.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. UBS Group lowered their price target on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft dropped their price objective on Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Harmony Biosciences in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.50.

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.