Charles Schwab Investment Management Inc. Sells 3,266 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Charles Schwab Investment Management Inc. reduced its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 371,442 shares of the company’s stock after selling 3,266 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Harmony Biosciences were worth $14,858,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Quest Partners LLC boosted its stake in 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 buying an additional 20,689 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Harmony Biosciences by 145.4% in the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after purchasing an additional 181,092 shares in the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of Harmony Biosciences by 42.1% in the 2nd quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company’s stock valued at $2,429,000 after purchasing an additional 23,867 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Harmony Biosciences by 56.7% during the 2nd quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock valued at $17,975,000 after purchasing an additional 215,700 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Harmony Biosciences by 54.1% in the 2nd quarter. Victory Capital Management Inc. now owns 84,964 shares of the company’s stock worth $2,563,000 after purchasing an additional 29,816 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Price Performance

Shares of Harmony Biosciences stock opened at $33.76 on Friday. The company has a market cap of $1.93 billion, a PE ratio of 16.00, a P/E/G ratio of 0.65 and a beta of 0.79. The business has a 50 day moving average of $34.75 and a 200 day moving average of $33.89. Harmony Biosciences Holdings, Inc. has a 52 week low of $28.14 and a 52 week high of $41.61. 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 (NASDAQ:HRMY) last posted 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. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. During the same period last year, the company posted $0.63 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group began coverage on shares of Harmony Biosciences in a research report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a report on Tuesday, October 29th. Raymond James reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Harmony Biosciences in a research note on Thursday, October 10th. Mizuho boosted their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, Oppenheimer restated an “outperform” rating and issued a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Insider Buying and Selling at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 21,496 shares of the firm’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.