American Century Companies Inc. Increases Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

American Century Companies Inc. grew its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 28.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,102,604 shares of the company’s stock after purchasing an additional 246,140 shares during the period. American Century Companies Inc. owned about 1.93% of Harmony Biosciences worth $37,941,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Harmony Biosciences during the third quarter worth $359,000. Intech Investment Management LLC purchased a new stake in shares of Harmony Biosciences during the 3rd quarter worth about $388,000. Citigroup Inc. grew its position in shares of Harmony Biosciences by 9.8% during the 3rd quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock valued at $7,114,000 after acquiring an additional 15,859 shares during the period. Quantbot Technologies LP purchased a new position in shares of Harmony Biosciences in the 3rd quarter valued at about $74,000. Finally, Martingale Asset Management L P raised its holdings in Harmony Biosciences by 75.3% in the 3rd quarter. Martingale Asset Management L P now owns 34,783 shares of the company’s stock worth $1,391,000 after purchasing an additional 14,946 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Insiders Place Their Bets

In other Harmony Biosciences news, CFO Sandip Kapadia sold 25,000 shares of Harmony Biosciences 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey Dierks sold 1,123 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,452 shares of company stock valued at $2,831,679. Insiders own 30.80% of the company’s stock.

Analyst Upgrades and Downgrades

HRMY has been the topic of several research analyst reports. Mizuho raised their price objective on Harmony Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, March 18th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Harmony Biosciences in a report on Tuesday, February 25th. HC Wainwright decreased their price objective on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They set a “buy” rating and a $55.00 target price for the company. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $53.33.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $33.35 on Friday. The company has a fifty day simple moving average of $36.13 and a 200-day simple moving average of $35.52. 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 market capitalization of $1.91 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 0.47 and a beta of 0.82. Harmony Biosciences Holdings, Inc. has a 52-week low of $28.14 and a 52-week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. Harmony Biosciences’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

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.