Royce & Associates LP Lowers Stock Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Royce & Associates LP lessened its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 12.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 78,703 shares of the company’s stock after selling 11,413 shares during the quarter. Royce & Associates LP’s holdings in Harmony Biosciences were worth $3,148,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in Harmony Biosciences during the second quarter worth about $36,000. CWM LLC increased its stake in Harmony Biosciences by 111.7% during the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after buying an additional 775 shares during the period. Quarry LP acquired a new stake in Harmony Biosciences during the 2nd quarter worth approximately $62,000. Headlands Technologies LLC boosted its position in Harmony Biosciences by 1,608.1% in the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after buying an additional 2,396 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Harmony Biosciences by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $80,000 after acquiring an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

HRMY has been the subject of a number of recent research reports. Cantor Fitzgerald lifted their target price on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and set a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Mizuho raised their target price 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. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a report on Tuesday, October 29th. Finally, Raymond James restated an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Harmony Biosciences Trading Down 0.4 %

Shares of Harmony Biosciences stock opened at $33.07 on Tuesday. 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 company has a fifty day simple moving average of $35.98 and a 200-day simple moving average of $33.51. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.62 and a beta of 0.77. Harmony Biosciences Holdings, Inc. has a 12-month low of $27.10 and a 12-month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data 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. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company had revenue of $186.00 million during the quarter, compared to the consensus estimate of $184.07 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Harmony Biosciences’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other 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 value of $869,943.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 30.80% of the stock is currently owned by company insiders.

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.