Martingale Asset Management L P Buys 14,946 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Martingale Asset Management L P grew its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 75.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,783 shares of the company’s stock after buying an additional 14,946 shares during the quarter. Martingale Asset Management L P owned 0.06% of Harmony Biosciences worth $1,391,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in shares of Harmony Biosciences during the 2nd quarter valued at about $36,000. CWM LLC raised its position in shares of 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 in the last quarter. Quarry LP purchased a new stake in shares of Harmony Biosciences during the 2nd quarter valued at about $62,000. Quantbot Technologies LP purchased a new stake in shares of Harmony Biosciences during the 3rd quarter valued at about $74,000. Finally, Headlands Technologies LLC raised its position in shares of Harmony Biosciences by 1,608.1% during the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after buying an additional 2,396 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Price Performance

Shares of HRMY stock opened at $34.67 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The company has a market capitalization of $1.98 billion, a P/E ratio of 16.43, a P/E/G ratio of 0.64 and a beta of 0.77. The company’s 50-day simple moving average is $35.16 and its two-hundred day simple moving average is $33.75. Harmony Biosciences Holdings, Inc. has a one year low of $28.14 and a one year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, October 29th. The company reported $0.79 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 net margin of 17.98% and a return on equity of 23.16%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. As a group, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current year.

Insider Activity

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Oppenheimer reissued an “outperform” rating and issued a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Mizuho increased their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Cantor Fitzgerald increased their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, 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 objective on the stock. Two investment 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 has a consensus rating of “Moderate Buy” and an average target price of $47.00.

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.