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

Valor Management LLC lessened its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 41.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,618,033 shares of the company's stock after selling 4,600,000 shares during the quarter. Harmony Biosciences makes up approximately 91.4% of Valor Management LLC's holdings, making the stock its largest holding. Valor Management LLC owned 11.60% of Harmony Biosciences worth $227,727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HRMY. Barclays PLC increased its position in Harmony Biosciences by 110.9% during the 3rd quarter. Barclays PLC now owns 76,862 shares of the company's stock worth $3,074,000 after purchasing an additional 40,416 shares in the last quarter. Avanza Fonder AB purchased a new stake in Harmony Biosciences during the 4th quarter worth about $145,000. ARS Investment Partners LLC purchased a new stake in Harmony Biosciences during the 4th quarter worth about $841,000. SG Americas Securities LLC increased its position in Harmony Biosciences by 43.1% during the 4th quarter. SG Americas Securities LLC now owns 22,498 shares of the company's stock worth $774,000 after purchasing an additional 6,774 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Harmony Biosciences by 9.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 17,445 shares of the company's stock worth $600,000 after purchasing an additional 1,550 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Trading Up 0.1%

Shares of NASDAQ:HRMY traded up $0.04 during trading on Friday, reaching $34.17. 392,819 shares of the stock were exchanged, compared to its average volume of 602,079. 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 Holdings, Inc. has a 12-month low of $26.47 and a 12-month high of $41.61. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The firm's 50-day moving average price is $31.58 and its 200 day moving average price is $34.02.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued 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 quarter in the previous year, the business earned $0.67 EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. On average, sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HRMY has been the subject of several recent analyst reports. Cantor Fitzgerald upgraded Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. UBS Group lowered their price target on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a report on Monday, April 28th. Needham & Company LLC restated a "buy" rating and issued a $49.00 price target on shares of Harmony Biosciences in a report on Tuesday, May 6th. HC Wainwright restated a "buy" rating and issued a $70.00 price target on shares of Harmony Biosciences in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target for the company. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Harmony Biosciences presently has an average rating of "Buy" and an average target price of $52.78.

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.