Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Holdings Lessened by venBio Partners LLC

venBio Partners LLC lowered its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 539,194 shares of the company's stock after selling 75,400 shares during the period. Harmony Biosciences makes up approximately 10.9% of venBio Partners LLC's portfolio, making the stock its 3rd largest position. venBio Partners LLC owned approximately 0.95% of Harmony Biosciences worth $18,554,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in HRMY. KBC Group NV grew its position in Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company's stock worth $63,000 after purchasing an additional 819 shares during the period. PNC Financial Services Group Inc. grew its position in Harmony Biosciences by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock worth $80,000 after purchasing an additional 519 shares during the period. Virtus Investment Advisers Inc. bought a new stake in Harmony Biosciences in the 4th quarter worth approximately $124,000. Summit Investment Advisors Inc. grew its position in Harmony Biosciences by 34.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,987 shares of the company's stock worth $137,000 after purchasing an additional 1,029 shares during the period. Finally, Avanza Fonder AB bought a new stake in Harmony Biosciences in the 4th quarter worth approximately $145,000. Institutional investors own 86.23% of the company's stock.

Harmony Biosciences Price Performance

Shares of HRMY traded up $0.04 during trading hours on Friday, reaching $34.17. 392,819 shares of the stock traded hands, compared to its average volume of 602,079. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a 52-week low of $26.47 and a 52-week high of $41.61. The company's 50-day moving average price is $31.58 and its two-hundred day moving average price is $34.02. The company has a market cap of $1.96 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its 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 net margin of 17.98% and a return on equity of 23.16%. The company had revenue of $184.73 million for the quarter, compared to analysts' expectations of $184.26 million. During the same quarter in the previous year, the company earned $0.67 EPS. Harmony Biosciences's revenue for the quarter was up 19.5% on a year-over-year basis. On average, analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Analyst Ratings Changes

HRMY has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $70.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 8th. UBS Group cut their price objective 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. Cantor Fitzgerald raised shares of Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a "buy" rating and a $55.00 price objective for the company. Finally, Mizuho boosted their price objective on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Harmony Biosciences 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.