Proficio Capital Partners LLC Invests $367,000 in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Proficio Capital Partners LLC bought a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,667 shares of the company’s stock, valued at approximately $367,000.

Several other large investors have also added to or reduced their stakes in HRMY. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Harmony Biosciences during the 3rd quarter worth approximately $359,000. Intech Investment Management LLC acquired a new stake in Harmony Biosciences in the third quarter worth $388,000. Massachusetts Financial Services Co. MA increased its stake in Harmony Biosciences by 27.1% in the third 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 in the last quarter. Citigroup Inc. raised its holdings in shares of Harmony Biosciences by 9.8% during the third quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock valued at $7,114,000 after purchasing an additional 15,859 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Harmony Biosciences during the 3rd quarter worth about $74,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Stock Down 3.7 %

Harmony Biosciences stock opened at $32.99 on Wednesday. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $28.14 and a fifty-two week high of $41.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The firm’s 50-day simple moving average is $36.31 and its 200 day simple moving average is $35.55. The stock has a market cap of $1.89 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results 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 analyst estimates 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 in the prior year, the company posted $0.45 earnings per share. Research analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on HRMY. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price for the company. HC Wainwright lowered their target price on Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Mizuho lifted their price target on shares of Harmony Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Tuesday, March 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a report on Tuesday, February 25th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $53.33.

Insiders Place Their Bets

In related news, CFO Sandip Kapadia sold 1,775 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $38.05, for a total transaction of $67,538.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey Dierks sold 10,507 shares of the company’s 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 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 company insiders.

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.