AlphaCentric Advisors LLC Has $3.88 Million Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

AlphaCentric Advisors LLC trimmed its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 20.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,000 shares of the company's stock after selling 25,000 shares during the period. Harmony Biosciences comprises 2.9% of AlphaCentric Advisors LLC's holdings, making the stock its 2nd largest position. AlphaCentric Advisors LLC owned approximately 0.17% of Harmony Biosciences worth $3,880,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its holdings in Harmony Biosciences by 9.0% during the first quarter. Janney Montgomery Scott LLC now owns 29,974 shares of the company's stock worth $1,007,000 after purchasing an additional 2,465 shares during the period. Texas Permanent School Fund Corp increased its holdings in shares of Harmony Biosciences by 1.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company's stock worth $964,000 after acquiring an additional 517 shares during the last quarter. Duality Advisers LP raised its stake in Harmony Biosciences by 22.5% in the 1st quarter. Duality Advisers LP now owns 9,864 shares of the company's stock valued at $331,000 after acquiring an additional 1,810 shares during the period. LSV Asset Management lifted its holdings in Harmony Biosciences by 346.5% during the 1st quarter. LSV Asset Management now owns 335,146 shares of the company's stock valued at $11,254,000 after purchasing an additional 260,093 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in Harmony Biosciences by 129.0% during the first quarter. Quantbot Technologies LP now owns 14,809 shares of the company's stock worth $497,000 after purchasing an additional 8,343 shares during the period. Institutional investors own 86.23% of the company's stock.

Insider Activity

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 this hyperlink. 30.80% of the stock is owned by company insiders.

Harmony Biosciences Trading Up 1.1 %

NASDAQ HRMY traded up $0.36 during trading hours on Tuesday, reaching $33.41. The company's stock had a trading volume of 540,176 shares, compared to its average volume of 472,638. Harmony Biosciences Holdings, Inc. has a 52 week low of $22.89 and a 52 week high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The stock has a market cap of $1.91 billion, a P/E ratio of 15.72, a P/E/G ratio of 0.62 and a beta of 0.77. The firm has a fifty day simple moving average of $36.23 and a 200-day simple moving average of $33.20.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.15. The business 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%. Harmony Biosciences's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. Equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on HRMY shares. Needham & Company LLC reaffirmed a "buy" rating and set a $52.00 target price on shares of Harmony Biosciences in a report on Tuesday, October 29th. UBS Group initiated coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They set a "buy" rating and a $56.00 price target on the stock. Mizuho lifted their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an "outperform" rating in a research note on Thursday, October 10th. Raymond James reaffirmed an "outperform" rating and issued a $40.00 target price on shares of Harmony Biosciences in a report on Thursday, October 10th. Finally, Oppenheimer reissued an "outperform" rating and set a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.00.

Harmony Biosciences Company 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.