Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Position Cut by HealthInvest Partners AB

HealthInvest Partners AB lessened its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 20.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,501 shares of the company's stock after selling 31,374 shares during the period. Harmony Biosciences makes up 1.9% of HealthInvest Partners AB's portfolio, making the stock its 18th biggest position. HealthInvest Partners AB owned about 0.21% of Harmony Biosciences worth $4,104,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company's stock valued at $31,000 after acquiring an additional 436 shares during the period. Mendota Financial Group LLC grew its position in Harmony Biosciences by 24,125.0% during the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock valued at $33,000 after acquiring an additional 965 shares during the period. CWM LLC boosted its position in shares of Harmony Biosciences by 111.7% in the third quarter. CWM LLC now owns 1,469 shares of the company's stock worth $59,000 after buying an additional 775 shares during the period. KBC Group NV boosted its position in shares of Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company's stock worth $63,000 after buying an additional 819 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Harmony Biosciences in the third quarter worth about $74,000. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Down 2.2 %

NASDAQ HRMY traded down $0.72 on Thursday, hitting $32.75. 764,179 shares of the stock traded hands, compared to its average volume of 631,671. The stock has a 50-day moving average of $36.66 and a 200 day moving average of $35.81. Harmony Biosciences Holdings, Inc. has a twelve month low of $28.14 and a twelve month high of $41.61. The company has a market capitalization of $1.87 billion, a P/E ratio of 15.52, a price-to-earnings-growth 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 announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm had revenue of $201.30 million for the quarter, compared to analysts' expectations of $201.25 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Harmony Biosciences's revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HRMY shares. Cantor Fitzgerald upped their target price on Harmony Biosciences from $51.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 target price for the company. Oppenheimer reaffirmed an "outperform" rating and issued a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Mizuho decreased their target price 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $53.11.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 1,123 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The shares were 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. Insiders have sold 72,452 shares of company stock worth $2,831,679 over the last quarter. 30.80% of the stock is owned by corporate insiders.

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.