Algert Global LLC Trims Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Algert Global LLC decreased its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 11.4% during the third quarter, HoldingsChannel.com reports. The firm owned 90,941 shares of the company’s stock after selling 11,670 shares during the period. Algert Global LLC’s holdings in Harmony Biosciences were worth $3,638,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of Harmony Biosciences during the second quarter valued at about $36,000. CWM LLC increased 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 during the period. Quarry LP bought a new stake in Harmony Biosciences during the 2nd quarter worth approximately $62,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Harmony Biosciences by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $80,000 after purchasing an additional 360 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in Harmony Biosciences by 1,608.1% in the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after purchasing an additional 2,396 shares during the period. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Up 1.9 %

Shares of HRMY opened at $34.71 on Tuesday. Harmony Biosciences Holdings, Inc. has a 1 year low of $28.14 and a 1 year high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The stock has a 50 day simple moving average of $35.53 and a two-hundred day simple moving average of $33.57. The firm has a market cap of $1.98 billion, a P/E ratio of 16.45, a P/E/G ratio of 0.63 and a beta of 0.77.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. On average, analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Mizuho raised their price target on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Cantor Fitzgerald boosted their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a research note on Tuesday, October 29th. Finally, 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. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.00.

Insider Buying and Selling at Harmony Biosciences

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

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.