Franklin Resources Inc. Has $1.10 Million Stock Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Franklin Resources Inc. increased its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,869 shares of the company’s stock after acquiring an additional 2,096 shares during the period. Franklin Resources Inc. owned about 0.06% of Harmony Biosciences worth $1,097,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. O Shaughnessy Asset Management LLC boosted its holdings in shares of Harmony Biosciences by 2.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company’s stock worth $704,000 after purchasing an additional 420 shares during the period. CIBC Private Wealth Group LLC lifted its position in Harmony Biosciences by 66.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,214 shares of the company’s stock worth $146,000 after buying an additional 1,681 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Harmony Biosciences during the 4th quarter valued at $1,708,000. Norges Bank purchased a new position in shares of Harmony Biosciences during the 4th quarter valued at $16,118,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Harmony Biosciences by 2.4% in the fourth quarter. JPMorgan Chase & Co. now owns 235,882 shares of the company’s stock worth $8,117,000 after acquiring an additional 5,454 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences news, CFO Sandip Kapadia sold 1,775 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $38.05, for a total value of $67,538.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The disclosure for this sale can be found here. Insiders sold a total of 61,945 shares of company stock worth $2,442,815 over the last three months. 30.80% of the stock is currently owned by insiders.

Harmony Biosciences Stock Performance

Shares of HRMY opened at $28.75 on Wednesday. The company has a market capitalization of $1.65 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. Harmony Biosciences Holdings, Inc. has a one year low of $26.47 and a one year high of $41.61. The company’s fifty day moving average price is $33.49 and its 200 day moving average price is $34.66.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data 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 return on equity of 23.16% and a net margin of 17.98%. The business had revenue of $201.30 million for the quarter, compared to analyst estimates of $201.25 million. During the same period in the previous year, the company posted $0.45 earnings per share. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HRMY shares. HC Wainwright reissued a “buy” rating and set a $70.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Mizuho lifted their price target on 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 restated a “buy” rating and issued a $50.00 price objective on shares of Harmony Biosciences in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price for the company. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $53.33.

Harmony Biosciences 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.