Valor Management LLC Sells 4,600,000 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Valor Management LLC cut its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 41.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,618,033 shares of the company's stock after selling 4,600,000 shares during the quarter. Harmony Biosciences accounts for 91.4% of Valor Management LLC's investment portfolio, making the stock its biggest holding. Valor Management LLC owned approximately 11.60% of Harmony Biosciences worth $227,727,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of HRMY. Deep Track Capital LP acquired a new stake in shares of Harmony Biosciences during the 4th quarter worth $49,894,000. Vanguard Group Inc. lifted its holdings in shares of Harmony Biosciences by 36.4% during 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. Marshall Wace LLP increased its holdings in Harmony Biosciences by 165.2% in the 4th quarter. Marshall Wace LLP now owns 929,744 shares of the company's stock valued at $31,992,000 after purchasing an additional 579,103 shares in the last quarter. Norges Bank purchased a new position in Harmony Biosciences in the fourth quarter valued at about $16,118,000. Finally, Pacer Advisors Inc. lifted 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. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on HRMY shares. Mizuho increased their price target on Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. HC Wainwright reissued a "buy" rating and issued a $70.00 price target on shares of Harmony Biosciences in a report on Tuesday, April 8th. UBS Group decreased their target price on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 target price for the company. Finally, Needham & Company LLC reiterated a "buy" rating and set a $49.00 price target on shares of Harmony Biosciences in a research report on Tuesday, May 6th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $52.78.

Harmony Biosciences Stock Up 2.4%

Shares of NASDAQ:HRMY opened at $35.91 on Tuesday. The company has a 50 day moving average of $31.50 and a 200-day moving average of $33.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. Harmony Biosciences Holdings, Inc. has a one year low of $26.47 and a one year high of $41.61. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 0.47 and a beta of 0.82.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping 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 business had revenue of $184.73 million during the quarter, compared to analysts' expectations of $184.26 million. During the same period in the prior year, the business earned $0.67 EPS. Harmony Biosciences's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

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.

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