Invesco Ltd. Raises Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Invesco Ltd. increased its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 173.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 449,180 shares of the company’s stock after buying an additional 285,156 shares during the quarter. Invesco Ltd. owned about 0.79% of Harmony Biosciences worth $15,456,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after buying an additional 436 shares in the last quarter. Mendota Financial Group LLC grew its position in shares of Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after acquiring an additional 965 shares during the period. KBC Group NV increased its stake in shares of Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after purchasing an additional 819 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Harmony Biosciences by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock worth $80,000 after purchasing an additional 519 shares during the period. Finally, Avanza Fonder AB purchased a new position in Harmony Biosciences during the fourth quarter worth approximately $145,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Trading Up 1.9 %

Shares of Harmony Biosciences stock opened at $28.46 on Monday. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. Harmony Biosciences Holdings, Inc. has a 52-week low of $26.47 and a 52-week high of $41.61. The company’s 50-day simple moving average is $32.92 and its 200-day simple moving average is $34.45.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $201.30 million during the quarter, compared to analysts’ expectations of $201.25 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 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share. As a group, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 19,293 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandip Kapadia sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total value of $1,004,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,945 shares of company stock valued at $2,442,815. Insiders own 23.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HRMY shares. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price objective for the company. Mizuho upped their price objective on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 18th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Harmony Biosciences in a report on Tuesday, April 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $53.33.

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.