Principal Financial Group Inc. Sells 19,654 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Principal Financial Group Inc. lessened its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 10.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,469 shares of the company's stock after selling 19,654 shares during the period. Principal Financial Group Inc. owned approximately 0.29% of Harmony Biosciences worth $6,499,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HRMY. nVerses Capital LLC acquired a new position in Harmony Biosciences in the second quarter valued at $36,000. CWM LLC grew its position in Harmony Biosciences by 111.7% during the third quarter. CWM LLC now owns 1,469 shares of the company's stock valued at $59,000 after buying an additional 775 shares during the period. Quarry LP purchased a new position in Harmony Biosciences during the second quarter valued at approximately $62,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Harmony Biosciences by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock worth $80,000 after acquiring an additional 360 shares in the last quarter. Finally, Headlands Technologies LLC lifted its holdings in Harmony Biosciences by 1,608.1% in the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company's stock worth $77,000 after buying an additional 2,396 shares during the period. Institutional investors and hedge funds own 86.23% of the company's stock.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 30.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group initiated coverage on Harmony Biosciences in a report on Tuesday, September 10th. They issued a "buy" rating and a $56.00 price objective for the company. Cantor Fitzgerald boosted their price target on Harmony Biosciences from $51.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Oppenheimer reiterated 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. Raymond James reaffirmed an "outperform" rating and set a $40.00 price objective on shares of Harmony Biosciences in a research note on Thursday, October 10th. Finally, Mizuho upped their price target on Harmony Biosciences from $42.00 to $52.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.00.

Harmony Biosciences Stock Performance

HRMY traded up $0.31 during trading on Wednesday, hitting $32.79. 311,020 shares of the stock were exchanged, compared to its average volume of 478,865. The firm has a market capitalization of $1.87 billion, a P/E ratio of 15.39, a PEG ratio of 0.62 and a beta of 0.77. The stock has a fifty day moving average price of $35.80 and a two-hundred day moving average price of $33.53. 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 $27.14 and a 1-year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data 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. 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 analyst estimates of $184.07 million. During the same period last year, the firm posted $0.63 EPS. Harmony Biosciences's quarterly revenue was up 16.0% on a year-over-year basis. As a group, sell-side analysts predict 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.