Harmony Biosciences Holdings, Inc. $HRMY Stock: Robeco Institutional Asset Management B.V. Trims Holdings

Key Points

• Robeco Institutional Asset Management cut its Harmony Biosciences stake by 51.7% in the third quarter, selling 50,733 shares and retaining 47,424 shares worth approximately $1.86 million.
• Institutional investors own 86.23% of HRMY, while insiders own 11%; insider Kumar Budur sold 35,852 shares, and insiders sold 72,406 shares worth about $3.11 million over the past three months.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and a $48.20 average price target. Harmony recently exceeded quarterly EPS and revenue estimates, reporting $1.28 EPS and $261.28 million in revenue.

Robeco Institutional Asset Management B.V. reduced its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 51.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,424 shares of the company's stock after selling 50,733 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.08% of Harmony Biosciences worth $1,862,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of HRMY. BlackRock Inc. bought a new stake in shares of Harmony Biosciences during the second quarter worth $258,583,000. venBio Partners LLC acquired a new stake in shares of Harmony Biosciences in the second quarter valued at $17,192,584. Tieton Capital Management LLC bought a new position in shares of Harmony Biosciences in the second quarter valued at about $11,170,000. Bank of New York Mellon Corp bought a new position in shares of Harmony Biosciences in the second quarter valued at about $9,937,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Harmony Biosciences by 13.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company's stock valued at $58,157,000 after buying an additional 245,784 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Insider Activity

In other news, insider Kumar Budur sold 35,852 shares of the company's stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $43.05, for a total value of $1,543,428.60. Following the completion of the sale, the insider directly owned 13,115 shares of the company's stock, valued at $564,600.75. This represents a 73.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 72,406 shares of company stock worth $3,108,520. 11.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Harmony Biosciences from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, October 12th. Needham & Company LLC restated a "buy" rating and issued a $50.00 price objective on shares of Harmony Biosciences in a research report on Monday, October 19th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $42.00 price objective on shares of Harmony Biosciences in a research report on Thursday, October 1st. HC Wainwright reaffirmed a "buy" rating and issued a $55.00 target price on shares of Harmony Biosciences in a research note on Tuesday, October 13th. Finally, Wolfe Research assumed coverage on shares of Harmony Biosciences in a research report on Wednesday, August 26th. They set an "outperform" rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $48.20.

Harmony Biosciences Stock Performance

HRMY stock opened at $36.13 on Monday. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.90 and a twelve month high of $43.49. The company has a market cap of $2.10 billion, a P/E ratio of 11.73, a PEG ratio of 0.29 and a beta of 1.01. The business has a fifty day moving average of $39.89 and a 200-day moving average of $35.76.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.32. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%. The business had revenue of $261.28 million for the quarter, compared to analysts' expectations of $250.77 million. During the same quarter last year, the business earned $0.92 earnings per share. The firm's quarterly revenue was up 30.3% compared to the same quarter last year. As a group, equities research analysts expect that Harmony Biosciences Holdings, Inc. will post 3.79 EPS for the current year.

Harmony Biosciences Profile

Harmony Biosciences Holdings, Inc is a commercial-stage biopharmaceutical company focused on developing and providing therapies for patients with rare neurological disorders. The company's activities center on conditions involving sleep-wake regulation and other central nervous system disorders where treatment options may be limited.

Harmony's principal product is WAKIX (pitolisant), an oral, non-scheduled treatment that acts as a histamine-3 receptor antagonist/inverse agonist. In the United States, WAKIX is approved for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy and for excessive daytime sleepiness in pediatric patients aged 6 and older with narcolepsy.

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