Verition Fund Management LLC Acquires 34,524 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Verition Fund Management LLC boosted its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 168.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,976 shares of the company's stock after buying an additional 34,524 shares during the quarter. Verition Fund Management LLC owned approximately 0.10% of Harmony Biosciences worth $2,199,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. raised its holdings in shares of Harmony Biosciences by 9.8% in the third quarter. Citigroup Inc. now owns 177,843 shares of the company's stock valued at $7,114,000 after purchasing an additional 15,859 shares during the last quarter. Quest Partners LLC increased its stake in Harmony Biosciences by 137.6% in the 3rd quarter. Quest Partners LLC now owns 35,723 shares of the company's stock valued at $1,429,000 after buying an additional 20,689 shares during the last quarter. Marshall Wace LLP increased its stake in Harmony Biosciences by 145.4% in the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company's stock valued at $9,220,000 after buying an additional 181,092 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in Harmony Biosciences by 42.1% during the 2nd quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company's stock worth $2,429,000 after buying an additional 23,867 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Harmony Biosciences by 56.7% during the 2nd quarter. Renaissance Technologies LLC now owns 595,800 shares of the company's stock worth $17,975,000 after buying an additional 215,700 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HRMY. Mizuho lifted their target price on Harmony Biosciences from $42.00 to $52.00 and gave the company an "outperform" rating in a research report on Thursday, October 10th. Raymond James reaffirmed an "outperform" rating and set a $40.00 price target on shares of Harmony Biosciences in a research report on Thursday, October 10th. Needham & Company LLC reissued a "buy" rating and issued a $52.00 price objective on shares of Harmony Biosciences in a report on Tuesday, October 29th. Oppenheimer restated an "outperform" rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald increased their price target on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Harmony Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

Insider Transactions at Harmony Biosciences

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

Harmony Biosciences Stock Performance

HRMY traded up $0.27 on Friday, reaching $33.76. The company had a trading volume of 340,779 shares, compared to its average volume of 477,433. The company's fifty day moving average is $34.75 and its 200 day moving average is $33.86. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The stock has a market cap of $1.93 billion, a P/E ratio of 16.00, a P/E/G ratio of 0.64 and a beta of 0.79. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $28.14 and a fifty-two week high of $41.61.

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