Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Stake Reduced by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. reduced its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 8.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,481 shares of the company’s stock after selling 20,845 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.39% of Harmony Biosciences worth $8,979,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. grew its stake in shares of Harmony Biosciences by 9.8% in the third quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock worth $7,114,000 after purchasing an additional 15,859 shares in the last quarter. Quest Partners LLC grew its stake in shares of Harmony Biosciences by 137.6% in the third quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock worth $1,429,000 after purchasing an additional 20,689 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Harmony Biosciences by 145.4% in the second quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock worth $9,220,000 after purchasing an additional 181,092 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Harmony Biosciences by 42.1% in the second quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company’s stock worth $2,429,000 after purchasing an additional 23,867 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Harmony Biosciences by 56.7% in the second quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock worth $17,975,000 after purchasing an additional 215,700 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 30.80% of the company’s stock.

Wall Street Analyst Weigh In

HRMY has been the subject of several recent analyst reports. Cantor Fitzgerald increased their price target on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Raymond James reaffirmed an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a report on Thursday, October 10th. UBS Group began coverage on Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 target price on the stock. Mizuho lifted their target price on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Harmony Biosciences Trading Down 4.1 %

NASDAQ:HRMY opened at $33.49 on Friday. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a 1-year low of $28.14 and a 1-year high of $41.61. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 0.64 and a beta of 0.79. The stock has a fifty day simple moving average of $34.85 and a 200 day simple moving average of $33.83.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business had revenue of $186.00 million during the quarter, compared to analyst estimates of $184.07 million. During the same quarter last year, the company posted $0.63 EPS. Harmony Biosciences’s revenue for the quarter was up 16.0% on a year-over-year basis. Sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.36 earnings per share for the current year.

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.