Nisa Investment Advisors LLC Buys 5,498 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Nisa Investment Advisors LLC boosted its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 8,867.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,560 shares of the company’s stock after purchasing an additional 5,498 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Harmony Biosciences were worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Harmony Biosciences by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after acquiring an additional 360 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Harmony Biosciences by 20.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 54,274 shares of the company’s stock valued at $2,171,000 after purchasing an additional 9,329 shares during the last quarter. Creative Planning purchased a new position in Harmony Biosciences during the 3rd quarter worth $246,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in Harmony Biosciences by 84.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 44,900 shares of the company’s stock valued at $1,796,000 after buying an additional 20,600 shares in the last quarter. Finally, CWM LLC raised its stake in Harmony Biosciences by 111.7% in the third quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after buying an additional 775 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HRMY shares. Needham & Company LLC restated a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research note on Tuesday, October 29th. Mizuho upped their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Cantor Fitzgerald lifted their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Raymond James reissued an “outperform” rating and issued a $40.00 target price on shares of Harmony Biosciences in a research report on Thursday, October 10th. Finally, Oppenheimer reiterated an “outperform” rating and set a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.00.

Insider Transactions at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 21,496 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total value of $869,943.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 30.80% of the company’s stock.

Harmony Biosciences Price Performance

Shares of HRMY opened at $34.29 on Thursday. The business’s 50-day moving average is $36.17 and its two-hundred day moving average is $33.24. The company has a market capitalization of $1.96 billion, a P/E ratio of 16.25, a P/E/G ratio of 0.61 and a beta of 0.77. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $22.89 and a fifty-two week high of $41.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

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