Creative Planning Takes $246,000 Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Creative Planning acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 6,143 shares of the company’s stock, valued at approximately $246,000.

A number of other large investors have also recently added to or reduced their stakes in HRMY. LSV Asset Management boosted its position in Harmony Biosciences by 72.5% during the second quarter. LSV Asset Management now owns 578,246 shares of the company’s stock worth $17,446,000 after acquiring an additional 243,100 shares during the last quarter. American Century Companies Inc. lifted its position in Harmony Biosciences by 53.7% during the second quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock worth $20,562,000 after buying an additional 238,140 shares during the period. Renaissance Technologies LLC grew its holdings in Harmony Biosciences by 56.7% in the 2nd quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock valued at $17,975,000 after buying an additional 215,700 shares during the period. Capital Management Corp VA purchased a new stake in Harmony Biosciences in the 1st quarter valued at about $7,018,000. Finally, Marshall Wace LLP increased its stake in shares of Harmony Biosciences by 145.4% during the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after acquiring an additional 181,092 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HRMY has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Cantor Fitzgerald upped their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. UBS Group assumed coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target for the company. Finally, Raymond James restated an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Harmony Biosciences Trading Up 3.4 %

HRMY opened at $36.08 on Monday. The firm has a market capitalization of $2.06 billion, a P/E ratio of 17.10, a P/E/G ratio of 0.67 and a beta of 0.77. The firm’s 50 day moving average is $36.15 and its 200-day moving average is $33.36. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a 52-week low of $22.89 and a 52-week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.15. The firm had revenue of $186.00 million for the quarter, compared to the consensus estimate of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. Analysts expect that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 30.80% of the company’s stock.

About Harmony Biosciences

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.