EntryPoint Capital LLC Makes New Investment in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

EntryPoint Capital LLC acquired a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 32,084 shares of the company’s stock, valued at approximately $1,104,000. Harmony Biosciences accounts for approximately 0.5% of EntryPoint Capital LLC’s portfolio, making the stock its 2nd biggest holding. EntryPoint Capital LLC owned about 0.06% of Harmony Biosciences at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its stake in Harmony Biosciences by 92.6% during the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after purchasing an additional 436 shares during the period. Mendota Financial Group LLC raised its holdings in shares of Harmony Biosciences by 24,125.0% in the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after buying an additional 965 shares during the last quarter. KBC Group NV boosted its stake in shares of Harmony Biosciences by 79.9% during the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after buying an additional 819 shares during the period. Quantbot Technologies LP purchased a new position in shares of Harmony Biosciences during the third quarter worth about $74,000. Finally, PNC Financial Services Group Inc. increased its position in Harmony Biosciences by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock valued at $80,000 after acquiring an additional 519 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $40.13, for a total value of $774,228.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Dierks sold 1,629 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $38.02, for a total transaction of $61,934.58. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock valued at $2,831,679 in the last 90 days. 30.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

HRMY has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price on the stock. HC Wainwright lowered their price objective on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. 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. Finally, Mizuho lifted their target price on shares of Harmony Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, March 18th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $53.33.

Harmony Biosciences Trading Down 2.9 %

Shares of HRMY opened at $34.24 on Tuesday. Harmony Biosciences Holdings, Inc. has a twelve month low of $28.14 and a twelve 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. The firm has a market capitalization of $1.96 billion, a P/E ratio of 16.23, a PEG ratio of 0.47 and a beta of 0.82. The firm’s 50-day moving average is $36.38 and its two-hundred day moving average is $35.57.

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 the consensus estimate of $0.74 by $0.11. The firm had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. Harmony Biosciences’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the business posted $0.45 EPS. On average, research analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal 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.