Principal Financial Group Inc. Cuts Stock Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Principal Financial Group Inc. lowered its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 10.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 162,469 shares of the company's stock after selling 19,654 shares during the quarter. Principal Financial Group Inc. owned approximately 0.28% of Harmony Biosciences worth $6,499,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HRMY. nVerses Capital LLC purchased a new stake in Harmony Biosciences in the second quarter worth $36,000. Versor Investments LP bought a new stake in shares of Harmony Biosciences during the 2nd quarter valued at about $549,000. Victory Capital Management Inc. boosted its stake in shares of Harmony Biosciences by 54.1% during the 2nd quarter. Victory Capital Management Inc. now owns 84,964 shares of the company's stock valued at $2,563,000 after purchasing an additional 29,816 shares in the last quarter. LSV Asset Management lifted its holdings in Harmony Biosciences by 72.5% in the second quarter. LSV Asset Management now owns 578,246 shares of the company's stock worth $17,446,000 after buying an additional 243,100 shares during the period. Finally, Quest Partners LLC lifted its holdings in Harmony Biosciences by 242.1% in the second quarter. Quest Partners LLC now owns 15,034 shares of the company's stock worth $454,000 after buying an additional 10,639 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Insider Activity at Harmony Biosciences

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

Analyst Upgrades and Downgrades

HRMY has been the subject of several research reports. Mizuho increased their target price on Harmony Biosciences from $42.00 to $52.00 and gave the stock an "outperform" rating in a research report on Thursday, October 10th. Needham & Company LLC reiterated a "buy" rating and issued a $52.00 price objective on shares of Harmony Biosciences in a report on Tuesday, October 29th. UBS Group started coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They set a "buy" rating and a $56.00 target price on the stock. Raymond James reiterated an "outperform" rating and issued a $40.00 price target on shares of Harmony Biosciences in a research note on Thursday, October 10th. Finally, Oppenheimer reissued an "outperform" rating and set a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $49.80.

Harmony Biosciences Stock Up 1.2 %

Shares of HRMY traded up $0.42 on Thursday, hitting $34.83. 388,400 shares of the stock traded hands, compared to its average volume of 483,557. The company has a market capitalization of $1.99 billion, a PE ratio of 16.51, a P/E/G ratio of 0.60 and a beta of 0.79. The business has a 50 day simple moving average of $34.15 and a 200 day simple moving average of $34.39. Harmony Biosciences Holdings, Inc. has a one year low of $28.14 and a one year high of $41.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.64 by $0.15. The company had revenue of $186.00 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. As a group, equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.36 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.