Legal & General Group Plc Grows Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Legal & General Group Plc lifted its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 27.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 116,959 shares of the company’s stock after purchasing an additional 25,338 shares during the period. Legal & General Group Plc owned about 0.21% of Harmony Biosciences worth $4,025,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HRMY. Barclays PLC raised its position in Harmony Biosciences by 110.9% during the 3rd quarter. Barclays PLC now owns 76,862 shares of the company’s stock valued at $3,074,000 after purchasing an additional 40,416 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Harmony Biosciences by 6.1% during the third quarter. Franklin Resources Inc. now owns 29,773 shares of the company’s stock valued at $1,191,000 after acquiring an additional 1,720 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Harmony Biosciences by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock valued at $9,217,000 after acquiring an additional 93,622 shares in the last quarter. GAMMA Investing LLC lifted its stake in Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after acquiring an additional 436 shares during the period. Finally, CWA Asset Management Group LLC boosted its holdings in Harmony Biosciences by 27.0% in the fourth quarter. CWA Asset Management Group LLC now owns 18,279 shares of the company’s stock valued at $629,000 after acquiring an additional 3,883 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Stock Up 2.4 %

HRMY stock opened at $29.18 on Wednesday. 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 business has a 50 day moving average of $32.54 and a 200 day moving average of $34.37. Harmony Biosciences Holdings, Inc. has a twelve month low of $26.47 and a twelve month high of $41.61. The firm has a market cap of $1.67 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm had revenue of $201.30 million during the quarter, compared to analyst estimates of $201.25 million. During the same quarter in the previous year, the firm earned $0.45 EPS. Harmony Biosciences’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on HRMY. Mizuho raised their target price 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. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Finally, HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Harmony Biosciences currently has a consensus rating of “Buy” and a consensus target price of $53.33.

Insider Transactions at Harmony Biosciences

In other news, CFO Sandip Kapadia sold 1,775 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $38.05, for a total transaction of $67,538.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Dierks sold 13,125 shares of Harmony Biosciences stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $37.31, for a total value of $489,693.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,529 shares of company stock worth $619,167. Corporate insiders own 23.60% of the company’s stock.

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.