ARS Investment Partners LLC Invests $841,000 in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

ARS Investment Partners LLC bought a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 4th quarter, HoldingsChannel reports. The fund bought 24,440 shares of the company’s stock, valued at approximately $841,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its position in Harmony Biosciences by 145.4% during the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after purchasing an additional 181,092 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Harmony Biosciences by 27.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock valued at $26,416,000 after purchasing an additional 140,690 shares during the period. HealthInvest Partners AB lifted its position in Harmony Biosciences by 335.2% during the 3rd quarter. HealthInvest Partners AB now owns 151,875 shares of the company’s stock valued at $6,075,000 after purchasing an additional 116,975 shares during the period. Dimensional Fund Advisors LP lifted its position in Harmony Biosciences by 13.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company’s stock valued at $28,871,000 after purchasing an additional 112,197 shares during the period. Finally, Millennium Management LLC lifted its position in Harmony Biosciences by 51.6% during the 2nd quarter. Millennium Management LLC now owns 307,420 shares of the company’s stock valued at $9,275,000 after purchasing an additional 104,691 shares during the period. Institutional investors own 86.23% of the company’s stock.

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 10,507 shares of Harmony Biosciences stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total value of $388,864.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 30.80% of the stock is owned by insiders.

Harmony Biosciences Trading Up 1.3 %

HRMY stock opened at $39.05 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The company has a fifty day moving average price of $34.46 and a two-hundred day moving average price of $34.96. Harmony Biosciences Holdings, Inc. has a one year low of $28.14 and a one year high of $41.61. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 0.54 and a beta of 0.78.

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 the consensus estimate of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. Equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HRMY. HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of Harmony Biosciences in a research report on Thursday, January 16th. Oppenheimer restated an “outperform” rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Mizuho raised their target price on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Raymond James restated an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a report on Thursday, October 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a report on Monday, January 13th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Harmony Biosciences has a consensus rating of “Buy” and a consensus price target of $55.00.

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.