Summit Global Investments Boosts Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Summit Global Investments lifted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 57.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,290 shares of the company’s stock after purchasing an additional 11,027 shares during the quarter. Summit Global Investments owned 0.05% of Harmony Biosciences worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Pacer Advisors Inc. raised its position in Harmony Biosciences by 18.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock worth $78,452,000 after buying an additional 351,582 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Harmony Biosciences by 27.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock worth $26,416,000 after buying an additional 140,690 shares during the last quarter. Capital Management Corp VA raised its position in Harmony Biosciences by 43.5% in the 4th quarter. Capital Management Corp VA now owns 340,960 shares of the company’s stock worth $11,732,000 after buying an additional 103,308 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Harmony Biosciences by 27.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,028 shares of the company’s stock worth $16,242,000 after buying an additional 100,586 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Harmony Biosciences by 68.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock worth $9,217,000 after buying an additional 93,622 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Trading Up 1.1 %

Shares of NASDAQ:HRMY opened at $35.28 on Friday. The stock has a 50 day moving average of $36.42 and a 200 day moving average of $35.58. The company has a market cap of $2.02 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. Harmony Biosciences Holdings, Inc. has a 12-month low of $28.14 and a 12-month high of $41.61. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28.

Harmony Biosciences (NASDAQ:HRMY) last released its 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. The company had revenue of $201.30 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $0.45 EPS. As a group, equities research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Insider Buying and Selling

In related news, insider Jeffrey Dierks sold 10,507 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $37.01, for a total value of $388,864.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandip Kapadia sold 1,775 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $38.05, for a total transaction of $67,538.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HRMY shares. Mizuho boosted their target price on 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 decreased their target price on Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. 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, February 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target for the company. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target 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.