Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 13.8% in the 4th quarter, Holdings Channel reports. The firm owned 265,639 shares of the company’s stock after purchasing an additional 32,272 shares during the quarter. Bank of New York Mellon Corp’s holdings in Harmony Biosciences were worth $9,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its stake in 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 last quarter. HighTower Advisors LLC grew its position in shares of Harmony Biosciences by 364.0% during the third quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock worth $3,199,000 after acquiring an additional 62,729 shares during the last quarter. Quest Partners LLC grew its position in shares of Harmony Biosciences by 137.6% during the third quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock worth $1,429,000 after acquiring an additional 20,689 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Harmony Biosciences by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock worth $9,217,000 after acquiring an additional 93,622 shares during the last quarter. Finally, StoneX Group Inc. bought a new position in shares of Harmony Biosciences during the third quarter worth about $755,000. Institutional investors own 86.23% of the company’s stock.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 1,123 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total value of $44,920.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandip Kapadia sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total transaction of $1,004,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is owned by insiders.

Harmony Biosciences Stock Performance

HRMY stock opened at $32.72 on Friday. The company has a market capitalization of $1.88 billion, a P/E ratio of 15.51, a PEG ratio of 0.47 and a beta of 0.82. The company has a 50-day simple moving average of $36.40 and a 200 day simple moving average of $35.63. 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 quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. Sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on HRMY shares. Deutsche Bank Aktiengesellschaft started 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 for the company. 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. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Harmony Biosciences in a research report on Tuesday, February 25th. Finally, Mizuho lowered their price target on shares of Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating for the company in a research report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $53.11.

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.