Two Sigma Investments LP Buys 132,595 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Two Sigma Investments LP increased its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 92.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 275,594 shares of the company’s stock after buying an additional 132,595 shares during the period. Two Sigma Investments LP owned 0.48% of Harmony Biosciences worth $9,483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming purchased a new stake in Harmony Biosciences during the fourth quarter worth $224,000. Sandia Investment Management LP purchased a new position in Harmony Biosciences during the 4th quarter worth $172,000. Rafferty Asset Management LLC purchased a new stake in Harmony Biosciences during the 4th quarter worth approximately $279,000. ProShare Advisors LLC increased its position in shares of Harmony Biosciences by 47.0% in the 4th quarter. ProShare Advisors LLC now owns 14,190 shares of the company’s stock valued at $488,000 after acquiring an additional 4,534 shares during the period. Finally, Man Group plc increased its holdings in Harmony Biosciences by 37.7% in the 4th quarter. Man Group plc now owns 214,113 shares of the company’s stock worth $7,368,000 after buying an additional 58,642 shares during the period. Institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on HRMY. Mizuho lifted their target price on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Harmony Biosciences in a report on Tuesday, April 8th. Needham & Company LLC restated a “buy” rating and set a $49.00 target price on shares of Harmony Biosciences in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price target for the company. Finally, Cantor Fitzgerald raised Harmony Biosciences to a “strong-buy” rating in a report on Tuesday, May 13th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $52.78.

Harmony Biosciences Price Performance

Shares of Harmony Biosciences stock opened at $34.17 on Friday. The stock has a market capitalization of $1.96 billion, a P/E ratio of 16.19, a PEG ratio of 0.47 and a beta of 0.82. The business has a 50 day simple moving average of $31.58 and a two-hundred day simple moving average of $34.02. Harmony Biosciences Holdings, Inc. has a 12 month low of $26.47 and a 12 month high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company had revenue of $184.73 million for the quarter, compared to analyst estimates of $184.26 million. During the same quarter last year, the firm posted $0.67 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Harmony Biosciences 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.