AlphaCentric Advisors LLC Reduces Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

AlphaCentric Advisors LLC decreased its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 20.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,000 shares of the company’s stock after selling 25,000 shares during the quarter. Harmony Biosciences comprises approximately 2.9% of AlphaCentric Advisors LLC’s holdings, making the stock its 2nd largest position. AlphaCentric Advisors LLC owned about 0.17% of Harmony Biosciences worth $3,880,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HRMY. LSV Asset Management increased its holdings in shares of Harmony Biosciences by 346.5% during the first quarter. LSV Asset Management now owns 335,146 shares of the company’s stock worth $11,254,000 after buying an additional 260,093 shares in the last quarter. Marshall Wace LLP increased its position in shares of Harmony Biosciences by 145.4% in the second 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 during the last quarter. Rice Hall James & Associates LLC raised its holdings in Harmony Biosciences by 42.1% during the second quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company’s stock worth $2,429,000 after acquiring an additional 23,867 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Harmony Biosciences by 54.1% in the second quarter. Victory Capital Management Inc. now owns 84,964 shares of the company’s stock valued at $2,563,000 after acquiring an additional 29,816 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Harmony Biosciences by 56.7% during the second 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 and hedge funds.

Harmony Biosciences Stock Down 0.1 %

Shares of NASDAQ:HRMY opened at $33.05 on Tuesday. Harmony Biosciences Holdings, Inc. has a one year low of $22.89 and a one year high of $41.61. The firm has a fifty day moving average price of $36.23 and a two-hundred day moving average price of $33.20. 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 company has a market cap of $1.88 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 0.62 and a beta of 0.77.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15. The company had revenue of $186.00 million during the quarter, compared to the consensus estimate of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. Harmony Biosciences’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. Analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.34 EPS for the current fiscal year.

Insider Activity at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 21,496 shares of the firm’s 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 Securities & Exchange Commission, which is accessible through the SEC website. 30.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HRMY has been the subject of several research reports. Mizuho raised their price target on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Oppenheimer restated an “outperform” rating and issued a $59.00 target price (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 target price on shares of Harmony Biosciences in a research note on Tuesday, October 29th. Cantor Fitzgerald raised their price target on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group initiated coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target on the stock. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.00.

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.