Fmr LLC Decreases Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Fmr LLC decreased its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 0.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,228,720 shares of the company’s stock after selling 9,184 shares during the period. Fmr LLC owned about 9.17% of Harmony Biosciences worth $209,149,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in Harmony Biosciences by 0.6% in the 2nd 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 during the period. Dimensional Fund Advisors LP lifted its stake in Harmony Biosciences by 13.3% in the second quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company’s stock worth $28,871,000 after acquiring an additional 112,197 shares during the period. American Century Companies Inc. boosted its holdings in Harmony Biosciences by 53.7% in the second quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock valued at $20,562,000 after acquiring an additional 238,140 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in 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 period. Finally, Renaissance Technologies LLC raised its holdings 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 in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HRMY has been the topic of a number of research reports. Oppenheimer reaffirmed 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. Mizuho increased their target price on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. UBS Group assumed coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target on the stock. Cantor Fitzgerald boosted their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, 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. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Harmony Biosciences Trading Up 1.3 %

NASDAQ:HRMY opened at $35.13 on Tuesday. Harmony Biosciences Holdings, Inc. has a 52 week low of $28.14 and a 52 week high of $41.61. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.64 and a beta of 0.77. The company’s 50 day moving average price is $35.09 and its 200-day moving average price is $33.79. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, topping 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 firm had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company’s revenue was up 16.0% on a year-over-year basis. On average, equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 21,496 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 available at the SEC website. Company insiders own 30.80% of the company’s stock.

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.