Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership reduced its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 296,618 shares of the company's stock after selling 20,948 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.52% of Harmony Biosciences worth $10,207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HRMY. Vanguard Group Inc. raised its holdings in shares of Harmony Biosciences by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock worth $162,883,000 after purchasing an additional 1,262,362 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Harmony Biosciences by 18.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company's stock worth $78,452,000 after purchasing an additional 351,582 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Harmony Biosciences by 28.7% during the fourth quarter. American Century Companies Inc. now owns 1,102,604 shares of the company's stock worth $37,941,000 after purchasing an additional 246,140 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Harmony Biosciences by 27.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 472,028 shares of the company's stock worth $16,242,000 after purchasing an additional 100,586 shares in the last quarter. Finally, Norges Bank acquired a new position in Harmony Biosciences during the fourth quarter worth about $16,118,000. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on HRMY. HC Wainwright reiterated a "buy" rating and issued a $70.00 target price on shares of Harmony Biosciences in a report on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 target price on the stock. Mizuho boosted their target price 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $50.00 target price on shares of Harmony Biosciences in a report on Tuesday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Harmony Biosciences presently has a consensus rating of "Buy" and an average target price of $53.33.

Harmony Biosciences Trading Down 2.4 %

Shares of Harmony Biosciences stock traded down $0.70 on Thursday, reaching $28.37. The company had a trading volume of 87,840 shares, compared to its average volume of 562,273. The firm's 50 day moving average price is $34.28 and its two-hundred day moving average price is $34.92. The firm has a market cap of $1.63 billion, a PE ratio of 13.45, a PEG ratio of 0.47 and a beta of 0.80. Harmony Biosciences Holdings, Inc. has a 52-week low of $26.47 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 released its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $201.30 million for the quarter, compared to the consensus estimate of $201.25 million. During the same period in the previous year, the firm earned $0.45 EPS. The business's revenue was up 19.5% on a year-over-year basis. Sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Jeffrey Dierks sold 10,507 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $37.01, for a total transaction of $388,864.07. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The disclosure for this sale can be found here. Insiders have sold a total of 72,452 shares of company stock valued at $2,831,679 in the last ninety days. Company insiders own 30.80% of the company's stock.

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.