Allspring Global Investments Holdings LLC Sells 1,193 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 3.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 31,109 shares of the company’s stock after selling 1,193 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Harmony Biosciences were worth $1,244,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Creative Planning purchased a new stake in Harmony Biosciences in the 3rd quarter valued at $246,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Harmony Biosciences by 84.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 44,900 shares of the company’s stock valued at $1,796,000 after purchasing an additional 20,600 shares during the last quarter. CWM LLC grew its position in Harmony Biosciences by 111.7% during the third quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after acquiring an additional 775 shares during the last quarter. Handelsbanken Fonder AB grew its position in Harmony Biosciences by 15.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 11,300 shares of the company’s stock worth $452,000 after acquiring an additional 1,500 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Harmony Biosciences by 244.4% during the 3rd quarter. SG Americas Securities LLC now owns 15,724 shares of the company’s stock valued at $629,000 after purchasing an additional 11,158 shares during the period. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Trading Down 4.9 %

NASDAQ:HRMY opened at $32.13 on Friday. Harmony Biosciences Holdings, Inc. has a one year low of $22.00 and a one year high of $41.61. The business has a fifty day moving average price of $36.44 and a 200-day moving average price of $33.11. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 0.69 and a beta of 0.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.13 and a quick ratio of 3.09.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data 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 return on equity of 22.97% and a net margin of 17.53%. The firm had revenue of $186.00 million for the quarter, compared to the consensus estimate of $184.07 million. During the same quarter last year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.23 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 30.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Cantor Fitzgerald boosted their price target on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday. Raymond James reiterated an “outperform” rating and issued a $40.00 price target on shares of Harmony Biosciences in a research note on Thursday, October 10th. Oppenheimer reissued an “outperform” rating and set a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a research report on Tuesday. Finally, UBS Group initiated coverage on shares of Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 target price for the company. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Harmony Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

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.