Citigroup Inc. Acquires 15,859 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Citigroup Inc. raised its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 9.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 177,843 shares of the company’s stock after purchasing an additional 15,859 shares during the period. Citigroup Inc.’s holdings in Harmony Biosciences were worth $7,114,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lazard Asset Management LLC lifted its stake in shares of Harmony Biosciences by 98.3% during the 1st quarter. Lazard Asset Management LLC now owns 4,542 shares of the company’s stock worth $152,000 after purchasing an additional 2,251 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Harmony Biosciences by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,219 shares of the company’s stock valued at $478,000 after buying an additional 1,201 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Harmony Biosciences by 1,011.7% in the 1st quarter. Janus Henderson Group PLC now owns 185,083 shares of the company’s stock worth $6,214,000 after buying an additional 168,434 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Harmony Biosciences during the 2nd quarter worth approximately $138,000. Finally, Hennion & Walsh Asset Management Inc. lifted its position 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 during the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $34.67 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.66 and a beta of 0.77. The firm’s 50 day simple moving average is $35.16 and its 200-day simple moving average is $33.72. Harmony Biosciences Holdings, Inc. has a 12 month low of $28.14 and a 12 month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.64 by $0.15. The company had revenue of $186.00 million for 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 revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the business earned $0.63 earnings per share. Analysts expect that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HRMY. UBS Group began coverage on Harmony Biosciences in a report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price objective on the stock. Oppenheimer reiterated an “outperform” rating and issued a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. 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 research report on Wednesday, October 30th. Mizuho upped their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Finally, Raymond James reissued an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Harmony Biosciences currently has an average rating of “Moderate Buy” and an average price target of $47.00.

Insider Activity at Harmony Biosciences

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

Harmony Biosciences Company 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.