Proficio Capital Partners LLC Buys New Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

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

Several other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after acquiring an additional 436 shares during the period. Mendota Financial Group LLC boosted its stake in shares of Harmony Biosciences by 24,125.0% in the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after purchasing an additional 965 shares during the period. KBC Group NV boosted its stake in shares of Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after purchasing an additional 819 shares during the period. Quantbot Technologies LP acquired a new stake in Harmony Biosciences during the 3rd quarter valued at $74,000. Finally, Avanza Fonder AB acquired a new position in shares of Harmony Biosciences in the fourth quarter worth about $145,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 1,123 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total value of $774,228.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,452 shares of company stock worth $2,831,679. Company insiders own 30.80% of the company’s stock.

Harmony Biosciences Stock Up 2.3 %

NASDAQ:HRMY opened at $34.43 on Tuesday. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average of $36.51 and a 200-day moving average of $35.70. The firm has a market capitalization of $1.97 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. Harmony Biosciences Holdings, Inc. has a 52 week low of $28.14 and a 52 week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $201.30 million for the quarter, compared to analysts’ expectations of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. Analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Harmony Biosciences in a report on Tuesday, February 25th. HC Wainwright cut their target price on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target on the stock. Finally, Mizuho lowered their price objective on Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $53.11.

About Harmony Biosciences

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.