Vanguard Group Inc. Boosts Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Vanguard Group Inc. boosted its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,684,152 shares of the company's stock after purchasing an additional 88,295 shares during the quarter. Vanguard Group Inc. owned about 6.29% of Harmony Biosciences worth $120,730,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Harmony Biosciences by 20.9% in the third quarter. BlackRock Inc. now owns 4,802,113 shares of the company's stock valued at $212,685,000 after purchasing an additional 829,234 shares during the last quarter. Perceptive Advisors LLC grew its holdings in Harmony Biosciences by 791.4% in the 2nd quarter. Perceptive Advisors LLC now owns 891,370 shares of the company's stock valued at $31,367,000 after buying an additional 791,370 shares during the period. Polar Capital Holdings Plc acquired a new position in shares of Harmony Biosciences during the 1st quarter valued at about $26,758,000. Balyasny Asset Management L.P. purchased a new position in shares of Harmony Biosciences during the 1st quarter worth about $15,336,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Harmony Biosciences by 43.4% in the first quarter. Dimensional Fund Advisors LP now owns 832,027 shares of the company's stock worth $27,166,000 after acquiring an additional 251,623 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Harmony Biosciences from $25.00 to $28.00 and gave the stock a "sell" rating in a research note on Tuesday, January 9th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $49.00 target price on shares of Harmony Biosciences in a report on Thursday, March 28th. Needham & Company LLC restated a "buy" rating and set a $53.00 price target on shares of Harmony Biosciences in a research note on Thursday, February 22nd. Mizuho reduced their price objective on Harmony Biosciences from $42.00 to $40.00 and set a "buy" rating on the stock in a research note on Tuesday, February 27th. Finally, Bank of America reiterated an "underperform" rating and set a $30.00 target price on shares of Harmony Biosciences in a report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

Harmony Biosciences Stock Down 1.5 %

NASDAQ:HRMY traded down $0.47 during trading hours on Thursday, hitting $31.23. The stock had a trading volume of 340,005 shares, compared to its average volume of 365,534. The company has a market cap of $1.77 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 0.46 and a beta of 0.73. The business has a 50 day simple moving average of $32.29 and a two-hundred day simple moving average of $30.46. Harmony Biosciences Holdings, Inc. has a 1-year low of $18.61 and a 1-year high of $39.26. The company has a current ratio of 2.75, a quick ratio of 2.72 and a debt-to-equity ratio of 0.38.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.29). Harmony Biosciences had a net margin of 22.16% and a return on equity of 27.49%. The firm had revenue of $168.40 million for the quarter, compared to analyst estimates of $168.90 million. During the same period in the previous year, the business posted $1.01 earnings per share. Harmony Biosciences's revenue for the quarter was up 31.3% on a year-over-year basis. Analysts predict that Harmony Biosciences Holdings, Inc. will post 3 EPS for the current year.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 11,979 shares of the company's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $32.00, for a total value of $383,328.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 28.40% of the company's stock.

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.