Pacer Advisors Inc. Purchases 351,582 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Pacer Advisors Inc. grew its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 18.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,279,918 shares of the company’s stock after acquiring an additional 351,582 shares during the quarter. Pacer Advisors Inc. owned 4.00% of Harmony Biosciences worth $78,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of HRMY. GAMMA Investing LLC raised its stake in Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after purchasing an additional 436 shares in the last quarter. Mendota Financial Group LLC increased its holdings in shares of Harmony Biosciences by 24,125.0% in the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after buying an additional 965 shares during the last quarter. CWM LLC lifted its holdings in shares of Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after acquiring an additional 775 shares during the last quarter. KBC Group NV grew its position in Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after acquiring an additional 819 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Harmony Biosciences during the third quarter worth approximately $74,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HRMY has been the subject of several analyst reports. Raymond James reaffirmed an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences 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. HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of Harmony Biosciences in a research note on Monday. Oppenheimer reaffirmed an “outperform” rating and set a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research report on Monday, January 13th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $55.00.

Insider Transactions at Harmony Biosciences

In other news, CEO Jeffrey M. Dayno sold 19,293 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandip Kapadia sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total value of $1,004,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 77,419 shares of company stock valued at $3,082,455 in the last 90 days. Insiders own 30.80% of the company’s stock.

Harmony Biosciences Price Performance

Shares of NASDAQ:HRMY opened at $38.01 on Monday. Harmony Biosciences Holdings, Inc. has a 52-week low of $28.14 and a 52-week high of $41.61. The business’s 50 day moving average is $34.86 and its 200 day moving average is $35.12. The stock has a market cap of $2.17 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 0.51 and a beta of 0.78. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15. The company had revenue of $186.00 million during the quarter, compared to analyst estimates of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. Harmony Biosciences’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. Sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

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.