Massachusetts Financial Services Co. MA Increases Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Massachusetts Financial Services Co. MA raised its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 27.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 660,391 shares of the company’s stock after buying an additional 140,690 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Harmony Biosciences were worth $26,416,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Intech Investment Management LLC purchased a new position in shares of Harmony Biosciences during the third quarter valued at approximately $388,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Harmony Biosciences during the third quarter valued at approximately $359,000. Quest Partners LLC boosted its holdings in shares of Harmony Biosciences by 137.6% in the third quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock valued at $1,429,000 after purchasing an additional 20,689 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Harmony Biosciences in the third quarter valued at approximately $235,000. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Harmony Biosciences in the third quarter valued at approximately $576,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HRMY shares. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a report on Tuesday, October 29th. Raymond James reiterated an “outperform” rating and issued a $40.00 price target on shares of Harmony Biosciences in a report on Thursday, October 10th. Cantor Fitzgerald boosted their price target on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group started coverage on Harmony Biosciences in a report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target for the company. Finally, Oppenheimer reiterated an “outperform” rating and issued a $59.00 price target (up previously 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY opened at $34.71 on Tuesday. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 0.63 and a beta of 0.77. Harmony Biosciences Holdings, Inc. has a 52 week low of $28.14 and a 52 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. The firm has a 50 day moving average of $35.53 and a 200 day moving average of $33.57.

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 analysts’ consensus estimates of $0.64 by $0.15. The business had revenue of $186.00 million for the quarter, compared to the consensus estimate of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. On average, sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 2.36 earnings per share for the current fiscal year.

Insider Transactions at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 30.80% of the company’s stock.

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.