MetLife Investment Management LLC Lowers Stock Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

MetLife Investment Management LLC reduced its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 7.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,885 shares of the company’s stock after selling 1,397 shares during the quarter. MetLife Investment Management LLC’s holdings in Harmony Biosciences were worth $715,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in Harmony Biosciences by 0.6% in the second quarter. Pacer Advisors Inc. now owns 2,509,609 shares of the company’s stock worth $75,715,000 after buying an additional 14,695 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Harmony Biosciences by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company’s stock valued at $28,871,000 after purchasing an additional 112,197 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Harmony Biosciences by 53.7% in the 2nd quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock valued at $20,562,000 after purchasing an additional 238,140 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Harmony Biosciences by 27.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock valued at $26,416,000 after purchasing an additional 140,690 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Harmony Biosciences by 56.7% in the 2nd quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock worth $17,975,000 after purchasing an additional 215,700 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Trading Up 0.8 %

Shares of HRMY opened at $33.76 on Friday. Harmony Biosciences Holdings, Inc. has a 1-year low of $28.14 and a 1-year 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 firm’s 50-day moving average price is $34.75 and its 200-day moving average price is $33.89. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 0.65 and a beta of 0.79.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HRMY. Mizuho upped their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Oppenheimer restated an “outperform” rating and set a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, October 29th. UBS Group assumed coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target for the company. Finally, Raymond James reissued an “outperform” rating and issued a $40.00 price target 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 assigned a buy rating to the stock. According to data from MarketBeat, Harmony Biosciences has an average rating of “Moderate Buy” and an average target price of $47.00.

Insider Buying and Selling

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 30.80% of the stock is owned by 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.