Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC increased its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 364.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,961 shares of the company’s stock after purchasing an additional 62,729 shares during the quarter. HighTower Advisors LLC owned 0.14% of Harmony Biosciences worth $3,199,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HRMY. Citigroup Inc. grew its position in Harmony Biosciences by 9.8% in the third quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock valued at $7,114,000 after acquiring an additional 15,859 shares in the last quarter. Quest Partners LLC grew its position in Harmony Biosciences by 137.6% in the third quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock valued at $1,429,000 after acquiring an additional 20,689 shares in the last quarter. Marshall Wace LLP grew its position in shares of Harmony Biosciences by 145.4% during the second quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock worth $9,220,000 after buying an additional 181,092 shares in the last quarter. Rice Hall James & Associates LLC lifted its stake in Harmony Biosciences by 42.1% during 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 during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Harmony Biosciences by 56.7% during 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 during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Trading Down 1.3 %

Shares of NASDAQ HRMY opened at $31.86 on Friday. Harmony Biosciences Holdings, Inc. has a one year low of $28.14 and a one year high of $41.61. The firm has a market capitalization of $1.82 billion, a PE ratio of 15.10, a PEG ratio of 0.63 and a beta of 0.79. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $34.36 and a two-hundred day moving average price of $33.94.

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

Analyst Ratings Changes

A number of research firms have issued reports on HRMY. Raymond James reiterated an “outperform” rating and issued a $40.00 target price on shares of Harmony Biosciences in a research note on Thursday, October 10th. Mizuho lifted their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Cantor Fitzgerald lifted 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. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a report on Tuesday, October 29th. Finally, UBS Group assumed 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. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Insider Activity

In related news, insider Jeffrey Dierks sold 21,496 shares of the business’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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.80% of the stock is owned by corporate insiders.

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.