Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) is AlphaCentric Advisors LLC’s 2nd Largest Position

AlphaCentric Advisors LLC lowered its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 20.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,000 shares of the company’s stock after selling 25,000 shares during the period. Harmony Biosciences accounts for 2.9% of AlphaCentric Advisors LLC’s holdings, making the stock its 2nd biggest position. AlphaCentric Advisors LLC’s holdings in Harmony Biosciences were worth $3,880,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in Harmony Biosciences by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after buying an additional 360 shares during the period. Texas Permanent School Fund Corp increased its holdings in Harmony Biosciences by 1.8% in the 1st quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock valued at $964,000 after purchasing an additional 517 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Harmony Biosciences by 7.0% in the 1st quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock valued at $352,000 after buying an additional 684 shares during the period. Profund Advisors LLC increased its position in shares of Harmony Biosciences by 11.1% during the second quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock worth $228,000 after acquiring an additional 758 shares during the period. Finally, CWM LLC grew its holdings in Harmony Biosciences by 111.7% during the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after acquiring an additional 775 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 30.80% of the company’s stock.

Harmony Biosciences Stock Down 0.1 %

Harmony Biosciences stock opened at $33.05 on Tuesday. Harmony Biosciences Holdings, Inc. has a 52 week low of $22.89 and a 52 week high of $41.61. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 0.62 and a beta of 0.77. The company’s 50-day moving average price is $36.23 and its two-hundred day moving average price is $33.20. 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 (NASDAQ:HRMY) last announced its earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.64 by $0.15. The company had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the company posted $0.63 earnings per share. On average, analysts expect that Harmony Biosciences Holdings, Inc. will post 2.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Mizuho lifted their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Raymond James reiterated an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a research report on Thursday, October 10th. Cantor Fitzgerald raised their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group initiated coverage on shares of Harmony Biosciences in a research report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Harmony Biosciences Company 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.