Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 10.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 162,469 shares of the company’s stock after selling 19,654 shares during the period. Principal Financial Group Inc.’s holdings in Harmony Biosciences were worth $6,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HRMY. LSV Asset Management boosted its position in Harmony Biosciences by 72.5% during the second quarter. LSV Asset Management now owns 578,246 shares of the company’s stock worth $17,446,000 after acquiring an additional 243,100 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Harmony Biosciences by 53.7% during the 2nd quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock worth $20,562,000 after purchasing an additional 238,140 shares during the last quarter. Renaissance Technologies LLC grew its position 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 valued at $17,975,000 after purchasing an additional 215,700 shares in the last quarter. Marshall Wace LLP increased its holdings 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 valued at $9,220,000 after purchasing an additional 181,092 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Harmony Biosciences by 27.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock worth $26,416,000 after buying an additional 140,690 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Price Performance

HRMY stock opened at $34.41 on Thursday. The business’s fifty day moving average price is $34.13 and its 200 day moving average price is $34.39. Harmony Biosciences Holdings, Inc. has a 12-month low of $28.14 and a 12-month high of $41.61. 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 company has a market capitalization of $1.96 billion, a PE ratio of 16.31, a P/E/G ratio of 0.60 and a beta of 0.79.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. During the same period in the prior year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current year.

Insider Buying and Selling

In other news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 30.80% of the stock is owned by insiders.

Analyst Ratings Changes

HRMY has been the subject of several analyst reports. Oppenheimer restated an “outperform” rating and issued a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Raymond James restated an “outperform” rating and set a $40.00 price objective on shares of Harmony Biosciences in a research report on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a report on Tuesday, October 29th. Cantor Fitzgerald raised their price target on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, HC Wainwright started coverage on Harmony Biosciences in a research report on Tuesday, December 17th. They issued a “buy” rating and a $75.00 price objective for the company. Two analysts have rated the stock with a sell rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.80.

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.