Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 91.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,333 shares of the company's stock after selling 64,478 shares during the period. Millennium Management LLC's holdings in Harmony Biosciences were worth $218,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Harmony Biosciences by 1.9% during the 4th quarter. FMR LLC now owns 5,329,902 shares of the company's stock worth $183,402,000 after acquiring an additional 101,182 shares during the period. Vanguard Group Inc. lifted its position in Harmony Biosciences by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock valued at $162,883,000 after acquiring an additional 1,262,362 shares in the last quarter. Deep Track Capital LP bought a new position in shares of Harmony Biosciences during the 4th quarter valued at $49,894,000. Dimensional Fund Advisors LP lifted its holdings in shares of Harmony Biosciences by 15.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company's stock valued at $41,739,000 after buying an additional 160,490 shares during the period. Finally, American Century Companies Inc. raised its holdings in Harmony Biosciences by 28.7% in the 4th 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 during the period. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on HRMY shares. Cantor Fitzgerald upgraded Harmony Biosciences to a "strong-buy" rating in a research note on Tuesday, May 13th. Needham & Company LLC reiterated a "buy" rating and issued a $49.00 price target on shares of Harmony Biosciences in a research report on Tuesday, May 6th. UBS Group dropped their target price on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Mizuho lifted their price target on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Finally, Oppenheimer started coverage on shares of Harmony Biosciences in a research note on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target for the company. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $53.00.

Harmony Biosciences Stock Down 1.1%

Harmony Biosciences stock traded down $0.36 during midday trading on Friday, reaching $32.97. The company's stock had a trading volume of 786,752 shares, compared to its average volume of 623,932. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $26.47 and a fifty-two week high of $41.61. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The company has a market cap of $1.89 billion, a P/E ratio of 15.63, a P/E/G ratio of 0.47 and a beta of 0.87. The business has a 50-day simple moving average of $32.24 and a 200-day simple moving average of $34.06.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.19. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company had revenue of $184.73 million for the quarter, compared to analysts' expectations of $184.26 million. During the same period last year, the firm earned $0.67 earnings per share. Harmony Biosciences's quarterly revenue was up 19.5% on a year-over-year basis. On average, research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 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.