GAMMA Investing LLC Has $97,000 Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

GAMMA Investing LLC lifted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 222.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,929 shares of the company’s stock after purchasing an additional 2,022 shares during the period. GAMMA Investing LLC’s holdings in Harmony Biosciences were worth $97,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Management Professionals Inc. acquired a new stake in shares of Harmony Biosciences in the first quarter valued at approximately $29,000. GF Fund Management CO. LTD. acquired a new stake in Harmony Biosciences during the 4th quarter worth $41,000. PNC Financial Services Group Inc. grew its holdings in Harmony Biosciences by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock worth $80,000 after acquiring an additional 519 shares during the period. Virtus Investment Advisers Inc. acquired a new stake in Harmony Biosciences during the 4th quarter worth $124,000. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Harmony Biosciences by 34.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,987 shares of the company’s stock valued at $137,000 after buying an additional 1,029 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HRMY. Oppenheimer began coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They issued an “outperform” rating and a $61.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Harmony Biosciences in a report on Tuesday, April 8th. Mizuho boosted their price objective on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, May 6th. Finally, Cantor Fitzgerald raised shares of Harmony Biosciences to a “strong-buy” rating in a research report on Tuesday, May 13th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $53.63.

Harmony Biosciences Trading Down 0.1%

Shares of NASDAQ:HRMY opened at $32.09 on Monday. The company’s 50-day moving average price is $33.20 and its two-hundred day moving average price is $33.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.67 and a quick ratio of 3.63. Harmony Biosciences Holdings, Inc. has a one year low of $26.47 and a one year high of $41.61. The stock has a market capitalization of $1.84 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.48 and a beta of 0.83.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.19. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. The business had revenue of $184.73 million during the quarter, compared to the consensus estimate of $184.26 million. During the same period last year, the business posted $0.67 EPS. Harmony Biosciences’s revenue was up 19.5% on a year-over-year basis. On average, equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

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.