JPMorgan Chase & Co. Purchases 93,622 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

JPMorgan Chase & Co. grew its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 68.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 230,428 shares of the company’s stock after acquiring an additional 93,622 shares during the period. JPMorgan Chase & Co. owned 0.40% of Harmony Biosciences worth $9,217,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Harmony Biosciences by 54.1% in the 2nd quarter. Victory Capital Management Inc. now owns 84,964 shares of the company’s stock worth $2,563,000 after acquiring an additional 29,816 shares in the last quarter. Headlands Technologies LLC grew its stake in shares of Harmony Biosciences by 1,608.1% in the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after buying an additional 2,396 shares during the period. American Century Companies Inc. grew its stake in shares of Harmony Biosciences by 53.7% in the 2nd quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock valued at $20,562,000 after buying an additional 238,140 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Harmony Biosciences by 19.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 61,397 shares of the company’s stock valued at $1,852,000 after buying an additional 10,167 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Harmony Biosciences by 2.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 519,701 shares of the company’s stock valued at $15,679,000 after buying an additional 13,547 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HRMY shares. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research note on Monday. HC Wainwright started coverage on Harmony Biosciences in a research note on Tuesday, December 17th. They set a “buy” rating and a $75.00 price target for the company. Mizuho lifted their price target on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Raymond James restated an “outperform” rating and issued a $40.00 target price on shares of Harmony Biosciences in a research note on Thursday, October 10th. Finally, Oppenheimer restated an “outperform” rating and issued a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Harmony Biosciences presently has a consensus rating of “Buy” and an average price target of $55.00.

Harmony Biosciences Trading Up 7.6 %

Shares of HRMY stock opened at $36.45 on Tuesday. The company’s fifty day simple moving average is $34.15 and its two-hundred day simple moving average is $34.70. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. Harmony Biosciences Holdings, Inc. has a 1 year low of $28.14 and a 1 year high of $41.61. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 0.60 and a beta of 0.78.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company had revenue of $186.00 million for the quarter, compared to the consensus estimate of $184.07 million. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.36 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jeffrey Dierks sold 21,496 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total value of $869,943.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 30.80% of the stock is currently owned by company insiders.

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.