HighTower Advisors LLC Has $392,000 Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

HighTower Advisors LLC reduced its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 85.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,401 shares of the company's stock after selling 68,560 shares during the period. HighTower Advisors LLC's holdings in Harmony Biosciences were worth $392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HRMY. GAMMA Investing LLC increased its holdings in Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company's stock worth $31,000 after buying an additional 436 shares during the last quarter. Mendota Financial Group LLC grew its position in Harmony Biosciences by 24,125.0% in the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock worth $33,000 after acquiring an additional 965 shares in the last quarter. KBC Group NV increased its stake in shares of Harmony Biosciences by 79.9% during the 4th quarter. KBC Group NV now owns 1,844 shares of the company's stock worth $63,000 after purchasing an additional 819 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Harmony Biosciences during the 3rd quarter valued at $74,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Harmony Biosciences by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock valued at $80,000 after purchasing an additional 519 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. HC Wainwright lowered their price objective on Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They issued a "buy" rating and a $55.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and set a $50.00 price target on shares of Harmony Biosciences in a report on Tuesday, February 25th. Finally, Mizuho increased their price target on shares of Harmony Biosciences from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Tuesday, March 18th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $53.33.

Insider Buying and Selling

In other news, insider Jeffrey Dierks sold 10,507 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total value of $388,864.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandip Kapadia sold 25,000 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total transaction of $1,004,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,452 shares of company stock valued at $2,831,679. Company insiders own 30.80% of the company's stock.

Harmony Biosciences Price Performance

Shares of HRMY traded down $1.71 on Friday, hitting $29.26. The company's stock had a trading volume of 959,565 shares, compared to its average volume of 559,834. The company has a 50 day moving average price of $35.30 and a 200 day moving average price of $35.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. 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 market capitalization of $1.68 billion, a PE ratio of 13.87, a PEG ratio of 0.47 and a beta of 0.80.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $201.30 million during the quarter, compared to analysts' expectations of $201.25 million. During the same quarter last year, the company posted $0.45 EPS. The company's quarterly revenue was up 19.5% compared to the same quarter last year. On average, research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal 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.