State Street Corp Cuts Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

State Street Corp cut its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 2.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,240,598 shares of the company’s stock after selling 32,900 shares during the period. State Street Corp’s holdings in Harmony Biosciences were worth $49,624,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of HRMY. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 acquiring an additional 360 shares in the last quarter. Profund Advisors LLC boosted its stake in Harmony Biosciences by 11.1% during the 2nd quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock valued at $228,000 after purchasing an additional 758 shares during the last quarter. CWM LLC increased its holdings in shares of Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after purchasing an additional 775 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Harmony Biosciences by 0.7% in the second quarter. AQR Capital Management LLC now owns 154,345 shares of the company’s stock worth $4,657,000 after purchasing an additional 1,116 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Harmony Biosciences during the second quarter valued at $36,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

HRMY opened at $33.89 on Friday. The firm’s 50-day moving average price is $34.25 and its 200-day moving average price is $34.07. The company has a market cap of $1.93 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 0.60 and a beta of 0.79. 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 52-week low of $28.14 and a 52-week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, topping 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 company had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HRMY. HC Wainwright initiated coverage on Harmony Biosciences in a research report on Tuesday. They issued a “buy” rating and a $75.00 target price for the company. UBS Group initiated coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a report on Tuesday, October 29th. Cantor Fitzgerald lifted their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Mizuho increased 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. Two research analysts have rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Harmony Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $49.80.

Insider Transactions at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 21,496 shares of the company’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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 30.80% of the company’s stock.

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.