Rhumbline Advisers Trims Stock Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Rhumbline Advisers lowered its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,694 shares of the company’s stock after selling 3,421 shares during the period. Rhumbline Advisers’ holdings in Harmony Biosciences were worth $3,038,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of HRMY. LSV Asset Management grew its stake in Harmony Biosciences by 346.5% during the first quarter. LSV Asset Management now owns 335,146 shares of the company’s stock valued at $11,254,000 after acquiring an additional 260,093 shares in the last quarter. Capital Management Corp VA purchased a new position in Harmony Biosciences during the first quarter valued at approximately $7,018,000. Janus Henderson Group PLC grew its stake in Harmony Biosciences by 1,011.7% during the first quarter. Janus Henderson Group PLC now owns 185,083 shares of the company’s stock valued at $6,214,000 after acquiring an additional 168,434 shares in the last quarter. Hedeker Wealth LLC purchased a new position in Harmony Biosciences during the first quarter valued at approximately $2,627,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Harmony Biosciences by 214.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 44,945 shares of the company’s stock valued at $1,356,000 after acquiring an additional 30,638 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Trading Up 0.1 %

Shares of HRMY opened at $38.81 on Wednesday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 0.75 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $39.73. The firm has a 50 day moving average price of $34.90 and a 200-day moving average price of $32.10.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.24. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The firm had revenue of $172.80 million during the quarter, compared to analyst estimates of $172.53 million. During the same period in the previous year, the business posted $0.56 EPS. The business’s quarterly revenue was up 28.8% on a year-over-year basis. As a group, equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on HRMY. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research note on Thursday, September 12th. Citigroup began coverage on shares of Harmony Biosciences in a research note on Friday, June 21st. They issued a “buy” rating and a $48.00 price target for the company. Finally, UBS Group began coverage on shares of Harmony Biosciences in a research note on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target for the company. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.33.

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.