Algert Global LLC Sells 11,670 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Algert Global LLC lessened its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 11.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 90,941 shares of the company’s stock after selling 11,670 shares during the period. Algert Global LLC owned approximately 0.16% of Harmony Biosciences worth $3,638,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of HRMY. LSV Asset Management grew its position in Harmony Biosciences by 72.5% in the 2nd quarter. LSV Asset Management now owns 578,246 shares of the company’s stock valued at $17,446,000 after purchasing an additional 243,100 shares during the period. American Century Companies Inc. increased its position in shares of Harmony Biosciences by 53.7% during the second quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock worth $20,562,000 after acquiring an additional 238,140 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of 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 acquiring an additional 215,700 shares during the last quarter. Marshall Wace LLP lifted its position in Harmony Biosciences by 145.4% in the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after acquiring an additional 181,092 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Harmony Biosciences by 1,011.7% during the 1st quarter. Janus Henderson Group PLC now owns 185,083 shares of the company’s stock valued at $6,214,000 after purchasing an additional 168,434 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Oppenheimer reissued an “outperform” rating and issued a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Cantor Fitzgerald raised their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Raymond James reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. UBS Group initiated coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Harmony Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $34.71 on Tuesday. The company has a market capitalization of $1.98 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. Harmony Biosciences Holdings, Inc. has a 52-week low of $28.14 and a 52-week high of $41.61. The company has a 50-day simple moving average of $35.53 and a 200 day simple moving average of $33.57.

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

Insider Buying and Selling at Harmony Biosciences

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

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.