Quest Partners LLC Acquires 20,689 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Quest Partners LLC lifted its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 137.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,723 shares of the company's stock after purchasing an additional 20,689 shares during the quarter. Quest Partners LLC owned 0.06% of Harmony Biosciences worth $1,429,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Harmony Biosciences by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock worth $80,000 after purchasing an additional 360 shares during the period. ProShare Advisors LLC lifted its holdings in Harmony Biosciences by 7.0% in the 1st quarter. ProShare Advisors LLC now owns 10,488 shares of the company's stock valued at $352,000 after acquiring an additional 684 shares during the last quarter. Profund Advisors LLC lifted its holdings in Harmony Biosciences by 11.1% in the 2nd quarter. Profund Advisors LLC now owns 7,557 shares of the company's stock valued at $228,000 after acquiring an additional 758 shares during the last quarter. CWM LLC lifted its holdings in Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company's stock valued at $59,000 after acquiring an additional 775 shares during the last quarter. Finally, Summit Global Investments lifted its holdings in Harmony Biosciences by 4.2% in the 2nd quarter. Summit Global Investments now owns 20,164 shares of the company's stock valued at $608,000 after acquiring an additional 807 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HRMY has been the subject of a number of research analyst reports. Raymond James reissued an "outperform" rating and issued a $40.00 price target on shares of Harmony Biosciences in a report on Thursday, October 10th. Needham & Company LLC reissued a "buy" rating and issued a $52.00 price target on shares of Harmony Biosciences in a report on Tuesday, October 29th. UBS Group assumed coverage on Harmony Biosciences in a report on Tuesday, September 10th. They set a "buy" rating and a $56.00 price objective on the stock. Mizuho boosted their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the stock an "outperform" rating in a report on Thursday, October 10th. Finally, Cantor Fitzgerald boosted their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.00.

Harmony Biosciences Stock Up 1.0 %

Shares of NASDAQ HRMY traded up $0.31 during trading hours on Wednesday, hitting $32.79. The stock had a trading volume of 311,020 shares, compared to its average volume of 478,865. The company has a market capitalization of $1.87 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.62 and a beta of 0.77. The firm's 50-day moving average price is $35.80 and its two-hundred day moving average price is $33.53. Harmony Biosciences Holdings, Inc. has a 52 week low of $27.14 and a 52 week 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 announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.64 by $0.15. The business had revenue of $186.00 million during the quarter, compared to analysts' expectations of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. Analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current fiscal year.

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the company's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 30.80% of the stock is currently owned by company insiders.

About Harmony Biosciences

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.