Mirae Asset Global Investments Co. Ltd. Grows Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 21.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,056 shares of the company’s stock after buying an additional 360 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Harmony Biosciences were worth $80,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. LSV Asset Management raised its position in shares of Harmony Biosciences by 346.5% in the first quarter. LSV Asset Management now owns 335,146 shares of the company’s stock valued at $11,254,000 after buying an additional 260,093 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Harmony Biosciences by 53.7% in the second quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock valued at $20,562,000 after acquiring an additional 238,140 shares in the last quarter. Renaissance Technologies LLC raised its stake in Harmony Biosciences by 56.7% in the second quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock valued at $17,975,000 after buying an additional 215,700 shares in the last quarter. Capital Management Corp VA acquired a new stake in Harmony Biosciences in the first quarter valued at $7,018,000. Finally, Marshall Wace LLP raised its stake in Harmony Biosciences by 145.4% in the second quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after buying an additional 181,092 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 30.80% of the company’s stock.

Harmony Biosciences Stock Down 0.1 %

HRMY opened at $33.05 on Tuesday. The company has a market capitalization of $1.88 billion, a P/E ratio of 15.66, a P/E/G ratio of 0.63 and a beta of 0.77. The stock has a fifty day moving average of $36.23 and a 200-day moving average of $33.20. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $22.89 and a fifty-two week high of $41.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.09 and a current ratio of 3.24.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business had revenue of $186.00 million for the quarter, compared to analysts’ expectations of $184.07 million. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue was up 16.0% on a year-over-year basis. On average, equities analysts expect that Harmony Biosciences Holdings, Inc. will post 2.22 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HRMY shares. Cantor Fitzgerald increased their price target on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a report on Tuesday, October 29th. UBS Group began coverage on shares of Harmony Biosciences in a research report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target on the stock. Oppenheimer restated an “outperform” rating and set a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Finally, Raymond James restated an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

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.