Jacobs Levy Equity Management Inc. Has $8.98 Million Stock Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Jacobs Levy Equity Management Inc. lessened its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 224,481 shares of the company's stock after selling 20,845 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.39% of Harmony Biosciences worth $8,979,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HRMY. Pacer Advisors Inc. raised its position in shares of Harmony Biosciences by 0.6% in the second quarter. Pacer Advisors Inc. now owns 2,509,609 shares of the company's stock valued at $75,715,000 after purchasing an additional 14,695 shares during the period. Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 112,197 shares during the period. American Century Companies Inc. raised its position in shares of 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 purchasing an additional 238,140 shares during the period. Massachusetts Financial Services Co. MA raised its position 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 valued at $26,416,000 after purchasing an additional 140,690 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Harmony Biosciences by 56.7% in the second quarter. Renaissance Technologies LLC now owns 595,800 shares of the company's stock valued at $17,975,000 after purchasing an additional 215,700 shares during the period. Institutional investors own 86.23% of the company's stock.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 30.80% of the company's stock.

Harmony Biosciences Stock Performance

HRMY traded up $0.27 during trading on Friday, reaching $33.76. 340,779 shares of the company's stock were exchanged, compared to its average volume of 477,433. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $28.14 and a fifty-two week high of $41.61. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $34.85 and a 200 day moving average price of $33.83. The company has a market capitalization of $1.93 billion, a P/E ratio of 15.87, a PEG ratio of 0.64 and a beta of 0.79.

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

Wall Street Analysts Forecast Growth

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