Livforsakringsbolaget Skandia Omsesidigt Makes New Investment in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,500 shares of the company’s stock, valued at approximately $210,000.

Other large investors also recently bought and sold shares of the company. HealthInvest Partners AB purchased a new stake in Harmony Biosciences during the 4th quarter worth approximately $4,684,000. Charles Schwab Investment Management Inc. grew its position in Harmony Biosciences by 17.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 290,911 shares of the company’s stock worth $9,533,000 after purchasing an additional 42,736 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Harmony Biosciences by 18.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,420,000 shares of the company’s stock worth $46,533,000 after purchasing an additional 220,000 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in Harmony Biosciences during the 3rd quarter worth approximately $1,408,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Harmony Biosciences during the 3rd quarter valued at approximately $686,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Insider Transactions at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 11,979 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $32.00, for a total value of $383,328.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 28.40% of the company’s stock.

Harmony Biosciences Price Performance

NASDAQ:HRMY traded down $0.07 during trading hours on Thursday, reaching $29.12. 5,269 shares of the company were exchanged, compared to its average volume of 369,236. The company has a current ratio of 2.75, a quick ratio of 2.72 and a debt-to-equity ratio of 0.38. The stock’s 50-day moving average is $32.03 and its 200-day moving average is $30.12. The firm has a market cap of $1.65 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73. Harmony Biosciences Holdings, Inc. has a twelve month low of $18.61 and a twelve month high of $39.26.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.29). The company had revenue of $168.40 million for the quarter, compared to analyst estimates of $168.90 million. Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The business’s revenue was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 earnings per share. On average, sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on HRMY. Bank of America restated an “underperform” rating and set a $30.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, January 2nd. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, April 9th. Mizuho decreased their price objective on shares of Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their price objective on shares of Harmony Biosciences from $25.00 to $28.00 and gave the company a “sell” rating in a research note on Tuesday, January 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $49.00 target price on shares of Harmony Biosciences in a research note on Friday, April 12th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.63.

Harmony Biosciences 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.