MetLife Investment Management LLC Sells 1,397 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

MetLife Investment Management LLC lessened its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 7.2% in the third quarter, Holdings Channel reports. The institutional investor owned 17,885 shares of the company’s stock after selling 1,397 shares during the period. MetLife Investment Management LLC’s holdings in Harmony Biosciences were worth $715,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in shares of Harmony Biosciences by 9.8% during 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% during the 3rd quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock valued at $1,429,000 after purchasing an additional 20,689 shares during the last quarter. Marshall Wace LLP increased its stake in Harmony Biosciences by 145.4% during the 2nd 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 in the last quarter. Rice Hall James & Associates LLC raised its holdings in Harmony Biosciences by 42.1% in the second quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company’s stock worth $2,429,000 after buying an additional 23,867 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Harmony Biosciences by 56.7% in the second quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock worth $17,975,000 after buying an additional 215,700 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at this link. 30.80% of the stock is currently owned by company insiders.

Harmony Biosciences Trading Up 0.8 %

Harmony Biosciences stock opened at $33.76 on Friday. Harmony Biosciences Holdings, Inc. has a 52-week low of $28.14 and a 52-week high of $41.61. The company has a market cap of $1.93 billion, a P/E ratio of 16.00, a P/E/G ratio of 0.65 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. The business has a 50-day simple moving average of $34.75 and a two-hundred day simple moving average of $33.89.

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

Analyst Ratings Changes

Several brokerages recently weighed in on HRMY. Raymond James reissued an “outperform” rating and set a $40.00 price target on shares of Harmony Biosciences in a research report on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research note on Tuesday, October 29th. Mizuho increased their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. UBS Group started coverage on Harmony Biosciences in a report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price objective for the company. Finally, Oppenheimer restated an “outperform” rating and set a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.