Vontobel Holding Ltd. Raises Stock Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Vontobel Holding Ltd. boosted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 51.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,600 shares of the company’s stock after buying an additional 3,600 shares during the period. Vontobel Holding Ltd.’s holdings in Harmony Biosciences were worth $342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Harmony Biosciences by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,684,152 shares of the company’s stock valued at $120,730,000 after buying an additional 88,295 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in Harmony Biosciences by 18.3% during the third 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 period. Pacer Advisors Inc. increased its stake in Harmony Biosciences by 534,795.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,224,910 shares of the company’s stock worth $39,565,000 after purchasing an additional 1,224,681 shares during the period. 683 Capital Management LLC increased its stake in Harmony Biosciences by 16.7% during the third quarter. 683 Capital Management LLC now owns 350,000 shares of the company’s stock worth $11,470,000 after purchasing an additional 50,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Harmony Biosciences by 17.2% during the third 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 period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Stock Performance

Shares of HRMY opened at $28.85 on Wednesday. The stock has a 50 day moving average price of $31.68 and a 200 day moving average price of $30.01. The company has a quick ratio of 2.72, a current ratio of 2.75 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 0.41 and a beta of 0.73. Harmony Biosciences Holdings, Inc. has a 52-week low of $18.61 and a 52-week high of $39.26.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.29). The business had revenue of $168.40 million during the quarter, compared to analyst estimates of $168.90 million. Harmony Biosciences had a net margin of 22.16% and a return on equity of 27.49%. The business’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same period last year, the company earned $1.01 earnings per share. Research analysts predict that Harmony Biosciences Holdings, Inc. will post 3 EPS for the current fiscal year.

Insider Activity at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 11,979 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $32.00, for a total value of $383,328.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 30.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Mizuho cut their price target on shares of Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Harmony Biosciences in a research note on Tuesday, April 9th. The Goldman Sachs Group boosted their price objective on Harmony Biosciences from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Tuesday, January 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $49.00 price objective on shares of Harmony Biosciences in a research report on Friday, April 12th. Finally, Bank of America reissued an “underperform” rating and set a $30.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, January 2nd. 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, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.