Victory Capital Management Inc. Has $5.05 Million Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Victory Capital Management Inc. grew its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 112.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 146,609 shares of the company’s stock after acquiring an additional 77,611 shares during the period. Victory Capital Management Inc. owned 0.26% of Harmony Biosciences worth $5,045,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of 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 last quarter. Mendota Financial Group LLC increased its position in shares of Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after purchasing an additional 965 shares in the last quarter. KBC Group NV increased its position in shares of Harmony Biosciences by 79.9% during the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after purchasing an additional 819 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Harmony Biosciences during the 3rd quarter worth about $74,000. Finally, Avanza Fonder AB acquired a new stake in Harmony Biosciences in the 4th quarter valued at about $145,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HRMY. HC Wainwright lowered their price target on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Mizuho cut their price objective 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, February 20th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Harmony Biosciences in a report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They set a “buy” rating and a $55.00 target price on the stock. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $53.11.

Harmony Biosciences Price Performance

HRMY stock opened at $32.72 on Friday. The stock has a market capitalization of $1.88 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a 12 month low of $28.14 and a 12 month high of $41.61. The firm has a 50-day moving average price of $36.40 and a 200-day moving average price of $35.63.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. The company 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%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 earnings per share. As a group, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Insider Activity at Harmony Biosciences

In related news, CEO Jeffrey M. Dayno sold 19,293 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Dierks sold 1,629 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was 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 a total of 72,452 shares of company stock worth $2,831,679 in the last quarter. 30.80% of the stock is owned by 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.