Alberta Investment Management Corp Grows Stock Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Alberta Investment Management Corp increased its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 44.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 38,600 shares of the company’s stock after purchasing an additional 11,800 shares during the period. Alberta Investment Management Corp’s holdings in Harmony Biosciences were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its stake in shares of 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 acquiring an additional 351,582 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Harmony Biosciences by 27.1% during the third 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. JPMorgan Chase & Co. lifted its position in Harmony Biosciences by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock valued at $9,217,000 after purchasing an additional 93,622 shares during the period. Principal Financial Group Inc. boosted its holdings in Harmony Biosciences by 28.4% in the 4th quarter. Principal Financial Group Inc. now owns 208,663 shares of the company’s stock valued at $7,180,000 after purchasing an additional 46,194 shares in the last quarter. Finally, Citigroup Inc. increased its position in Harmony Biosciences by 9.8% during the 3rd quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock worth $7,114,000 after purchasing an additional 15,859 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HRMY. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of Harmony Biosciences in a report on Wednesday. Oppenheimer reiterated an “outperform” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Mizuho decreased their target price on shares of Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday. Needham & Company LLC cut their price target on shares of Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $53.67.

Insider Buying and Selling at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 1,123 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total value of $774,228.09. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock valued at $2,831,679 over the last quarter. Corporate insiders own 30.80% of the company’s stock.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $34.56 on Friday. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The firm’s 50-day simple moving average is $36.53 and its 200 day simple moving average is $35.74. Harmony Biosciences Holdings, Inc. has a 52 week low of $28.14 and a 52 week high of $41.61. The firm has a market capitalization of $1.97 billion, a PE ratio of 16.38, a P/E/G ratio of 0.47 and a beta of 0.80.

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.