HighTower Advisors LLC Has $3.20 Million Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

HighTower Advisors LLC raised its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 364.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,961 shares of the company's stock after buying an additional 62,729 shares during the quarter. HighTower Advisors LLC owned 0.14% of Harmony Biosciences worth $3,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of Harmony Biosciences by 0.6% in the 2nd quarter. Pacer Advisors Inc. now owns 2,509,609 shares of the company's stock valued at $75,715,000 after buying an additional 14,695 shares during the period. Dimensional Fund Advisors LP grew its stake in Harmony Biosciences by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company's stock valued at $28,871,000 after acquiring an additional 112,197 shares during the period. American Century Companies Inc. grew its stake in Harmony Biosciences by 53.7% in the second quarter. American Century Companies Inc. now owns 681,536 shares of the company's stock valued at $20,562,000 after acquiring an additional 238,140 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Harmony Biosciences by 27.1% in the third 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 in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Harmony Biosciences by 56.7% during the second quarter. Renaissance Technologies LLC now owns 595,800 shares of the company's stock worth $17,975,000 after purchasing an additional 215,700 shares during the period. Institutional investors own 86.23% of the company's stock.

Insider Activity

In other news, insider Jeffrey Dierks sold 21,496 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total value of $869,943.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 30.80% of the company's stock.

Harmony Biosciences Stock Up 1.7 %

NASDAQ HRMY traded up $0.53 during trading hours on Friday, hitting $32.39. 386,485 shares of the company traded hands, compared to its average volume of 476,253. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 0.60 and a beta of 0.79. Harmony Biosciences Holdings, Inc. has a twelve month low of $28.14 and a twelve month high of $41.61. The business's 50-day moving average is $34.36 and its 200-day moving average is $33.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $186.00 million during the quarter, compared to analysts' expectations of $184.07 million. During the same period last year, the business earned $0.63 earnings per share. The firm's revenue was up 16.0% on a year-over-year basis. Sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

HRMY has been the subject of several research analyst reports. UBS Group assumed coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They issued a "buy" rating and a $56.00 price objective for the company. Mizuho upped their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an "outperform" rating in a report on Thursday, October 10th. Oppenheimer restated an "outperform" rating and set a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Cantor Fitzgerald upped their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $52.00 price target on shares of Harmony Biosciences in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

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.