Royce & Associates LP Buys 3,056 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Royce & Associates LP raised its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 3.9% during the 4th quarter, Holdings Channel reports. The fund owned 81,759 shares of the company’s stock after purchasing an additional 3,056 shares during the period. Royce & Associates LP’s holdings in Harmony Biosciences were worth $2,813,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GSA Capital Partners LLP acquired a new stake in shares of Harmony Biosciences in the 3rd quarter worth $235,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Harmony Biosciences in the 3rd quarter worth $359,000. Intech Investment Management LLC acquired a new stake in shares of Harmony Biosciences in the 3rd quarter worth $388,000. Massachusetts Financial Services Co. MA boosted its position in shares of 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 purchasing an additional 140,690 shares in the last quarter. Finally, HealthInvest Partners AB boosted its position in shares of Harmony Biosciences by 335.2% in the 3rd quarter. HealthInvest Partners AB now owns 151,875 shares of the company’s stock worth $6,075,000 after purchasing an additional 116,975 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $34.90 on Friday. The stock has a 50-day simple moving average of $36.39 and a two-hundred day simple moving average of $35.60. The firm has a market capitalization of $2.00 billion, a P/E ratio of 16.54, a PEG ratio of 0.47 and a beta of 0.82. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $28.14 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 released its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $201.30 million during the quarter, compared to analyst estimates of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company’s revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted $0.45 EPS. On average, equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Insider Activity

In other news, insider Jeffrey Dierks sold 1,629 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $38.02, for a total transaction of $61,934.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandip Kapadia sold 1,775 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $38.05, for a total value of $67,538.75. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock worth $2,831,679 in the last ninety days. Company insiders own 30.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HRMY. 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. Needham & Company LLC restated a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday, February 25th. HC Wainwright reduced their target price on Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Mizuho raised their target price on Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Tuesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $53.33.

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.