Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 28.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 208,663 shares of the company's stock after buying an additional 46,194 shares during the period. Principal Financial Group Inc. owned approximately 0.37% of Harmony Biosciences worth $7,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Harmony Biosciences by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock worth $80,000 after acquiring an additional 360 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company's stock valued at $31,000 after purchasing an additional 436 shares during the period. New York State Teachers Retirement System increased its position in Harmony Biosciences by 2.6% during the fourth quarter. New York State Teachers Retirement System now owns 31,693 shares of the company's stock worth $1,091,000 after purchasing an additional 809 shares during the last quarter. KBC Group NV raised its stake in Harmony Biosciences by 79.9% during the fourth quarter. KBC Group NV now owns 1,844 shares of the company's stock worth $63,000 after purchasing an additional 819 shares during the period. Finally, Hedeker Wealth LLC boosted its holdings in Harmony Biosciences by 1.2% in the 4th quarter. Hedeker Wealth LLC now owns 76,203 shares of the company's stock valued at $2,622,000 after purchasing an additional 916 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HRMY. Needham & Company LLC restated a "buy" rating and set a $50.00 price target on shares of Harmony Biosciences in a report on Tuesday, February 25th. HC Wainwright cut their target price on Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday. Mizuho reduced their target price on Harmony Biosciences from $52.00 to $42.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a report on Tuesday, February 11th. They set a "buy" rating and a $55.00 price target for the company. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Harmony Biosciences has a consensus rating of "Buy" and a consensus target price of $53.11.

Insiders Place Their Bets

In related news, CFO Sandip Kapadia sold 1,775 shares of Harmony Biosciences stock in a transaction on Monday, January 27th. The stock was sold at an average price of $38.05, for a total value of $67,538.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Dierks sold 1,629 shares of the company's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $38.02, for a total transaction of $61,934.58. The disclosure for this sale can be found here. Insiders have sold a total of 72,452 shares of company stock worth $2,831,679 in the last ninety days. 30.80% of the stock is owned by corporate insiders.

Harmony Biosciences Trading Down 4.9 %

HRMY traded down $1.67 during mid-day trading on Monday, hitting $32.18. 747,426 shares of the stock were exchanged, compared to its average volume of 644,598. The firm's fifty day moving average is $36.63 and its two-hundred day moving average is $35.81. Harmony Biosciences Holdings, Inc. has a 1-year low of $28.14 and a 1-year high of $41.61. The company has a market cap of $1.85 billion, a PE ratio of 15.25, a PEG ratio of 0.47 and a beta of 0.80. 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 (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results 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 for 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 business's quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 earnings per share. Equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share 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.