Victory Capital Management Inc. Sells 15,966 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Victory Capital Management Inc. trimmed its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 18.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,998 shares of the company's stock after selling 15,966 shares during the quarter. Victory Capital Management Inc. owned about 0.12% of Harmony Biosciences worth $2,760,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HRMY. Marshall Wace LLP boosted its position in shares of Harmony Biosciences by 145.4% in the second quarter. Marshall Wace LLP now owns 305,612 shares of the company's stock valued at $9,220,000 after acquiring an additional 181,092 shares during the period. Rice Hall James & Associates LLC increased its stake in Harmony Biosciences by 42.1% during the second quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company's stock valued at $2,429,000 after acquiring an additional 23,867 shares during the period. Renaissance Technologies LLC grew its holdings 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 purchasing an additional 215,700 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Harmony Biosciences during the 3rd quarter worth approximately $576,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Harmony Biosciences by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company's stock valued at $28,871,000 after purchasing an additional 112,197 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jeffrey Dierks sold 21,496 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 30.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HRMY. Needham & Company LLC reissued a "buy" rating and issued a $52.00 price target on shares of Harmony Biosciences in a report on Tuesday, October 29th. Cantor Fitzgerald increased their price target on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Raymond James reaffirmed an "outperform" rating and set a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. Mizuho increased their target price on Harmony Biosciences from $42.00 to $52.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. Finally, UBS Group assumed coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They issued a "buy" rating and a $56.00 price target on the stock. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

Harmony Biosciences Price Performance

HRMY stock traded up $0.84 during midday trading on Friday, reaching $34.07. 517,923 shares of the company's stock traded hands, compared to its average volume of 1,229,620. The company has a 50-day simple moving average of $35.53 and a two-hundred day simple moving average of $33.56. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. 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 $1.94 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 0.62 and a beta of 0.77.

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

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.