Franklin Resources Inc. Acquires Shares of 27,136 Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Franklin Resources Inc. bought a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMYFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 27,136 shares of the company’s stock, valued at approximately $876,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in Harmony Biosciences by 47.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after acquiring an additional 329 shares during the period. ELCO Management Co. LLC acquired a new position in shares of Harmony Biosciences during the 3rd quarter worth about $210,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Harmony Biosciences in the 4th quarter valued at about $210,000. China Universal Asset Management Co. Ltd. boosted its holdings in Harmony Biosciences by 342.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,777 shares of the company’s stock worth $219,000 after buying an additional 5,244 shares during the last quarter. Finally, Duality Advisers LP purchased a new stake in Harmony Biosciences during the 4th quarter worth approximately $260,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on HRMY. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, April 30th. Mizuho cut their price objective on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $49.00 price objective on shares of Harmony Biosciences in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.63.

View Our Latest Analysis on HRMY

Insider Buying and Selling

In related news, insider Jeffrey Dierks sold 11,979 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $32.00, for a total value of $383,328.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 30.80% of the stock is currently owned by company insiders.

Harmony Biosciences Price Performance

HRMY stock opened at $30.52 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.11 and a quick ratio of 3.07. The business has a 50 day simple moving average of $30.19 and a 200-day simple moving average of $31.25. The firm has a market capitalization of $1.73 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 0.55 and a beta of 0.72. Harmony Biosciences Holdings, Inc. has a 1 year low of $18.61 and a 1 year high of $39.26.

Harmony Biosciences (NASDAQ:HRMYGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $154.62 million during the quarter, compared to analyst estimates of $154.10 million. Harmony Biosciences had a return on equity of 28.26% and a net margin of 22.30%. The business’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 earnings per share. Equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.4 earnings per share for the current fiscal year.

Harmony Biosciences Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Harmony Biosciences (NASDAQ:HRMY)

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