Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 57.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,306 shares of the company's stock after selling 17,803 shares during the period. Allspring Global Investments Holdings LLC's holdings in Harmony Biosciences were worth $458,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of HRMY. Pacer Advisors Inc. grew its position in shares of Harmony Biosciences by 18.2% in the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company's stock valued at $78,452,000 after purchasing an additional 351,582 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Harmony Biosciences by 27.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company's stock worth $26,416,000 after acquiring an additional 140,690 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Harmony Biosciences by 68.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company's stock worth $9,217,000 after acquiring an additional 93,622 shares during the period. Citigroup Inc. boosted 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 last quarter. Finally, HealthInvest Partners AB grew its holdings in shares of Harmony Biosciences by 335.2% in the third quarter. HealthInvest Partners AB now owns 151,875 shares of the company's stock valued at $6,075,000 after purchasing an additional 116,975 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 1,123 shares of Harmony Biosciences stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total transaction of $44,920.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total value of $774,228.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HRMY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 target price on the stock. Mizuho lowered their price objective on Harmony Biosciences from $52.00 to $42.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Needham & Company LLC restated a "buy" rating and issued a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday. Finally, HC Wainwright decreased their price target on Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Harmony Biosciences has an average rating of "Buy" and an average target price of $53.11.

Harmony Biosciences Stock Up 3.4 %

NASDAQ:HRMY traded up $1.10 during midday trading on Friday, reaching $33.85. The company had a trading volume of 903,055 shares, compared to its average volume of 638,406. The stock's fifty day simple moving average is $36.64 and its 200-day simple moving average is $35.79. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a 12-month low of $28.14 and a 12-month high of $41.61. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 0.47 and a beta of 0.80.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The business had revenue of $201.30 million during the quarter, compared to analysts' expectations of $201.25 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 19.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. On average, sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

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.