Connor Clark & Lunn Investment Management Ltd. Invests $359,000 in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the 3rd quarter, Holdings Channel.com reports. The firm bought 8,974 shares of the company’s stock, valued at approximately $359,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Harmony Biosciences by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after purchasing an additional 360 shares during the period. Profund Advisors LLC boosted its position in Harmony Biosciences by 11.1% during the 2nd quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock valued at $228,000 after buying an additional 758 shares during the period. CWM LLC boosted its position in Harmony Biosciences by 111.7% during the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after buying an additional 775 shares during the period. Summit Global Investments grew its holdings in Harmony Biosciences by 4.2% in the 2nd quarter. Summit Global Investments now owns 20,164 shares of the company’s stock worth $608,000 after acquiring an additional 807 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Harmony Biosciences by 0.7% in the second quarter. AQR Capital Management LLC now owns 154,345 shares of the company’s stock valued at $4,657,000 after acquiring an additional 1,116 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Price Performance

Shares of HRMY stock opened at $34.67 on Friday. The business’s fifty day moving average is $35.16 and its 200 day moving average is $33.72. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.66 and a beta of 0.77. Harmony Biosciences Holdings, Inc. has a twelve month low of $28.14 and a twelve month high of $41.61.

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

Insider Buying and Selling at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction that occurred 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 30.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald increased their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Raymond James reiterated an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a research report on Thursday, October 10th. Mizuho upped their target price on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. UBS Group initiated coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target on the stock. Finally, Oppenheimer restated an “outperform” rating and issued a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

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.