Rice Hall James & Associates LLC Trims Stock Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Rice Hall James & Associates LLC cut its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 1.5% in the 3rd quarter, Holdings Channel reports. The fund owned 79,271 shares of the company’s stock after selling 1,241 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Harmony Biosciences were worth $3,171,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in Harmony Biosciences during the 2nd quarter valued at approximately $36,000. CWM LLC raised its stake in Harmony Biosciences by 111.7% during the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after acquiring an additional 775 shares during the last quarter. Quarry LP purchased a new stake in Harmony Biosciences during the 2nd quarter valued at approximately $62,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Harmony Biosciences by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after acquiring an additional 360 shares during the last quarter. Finally, Headlands Technologies LLC raised its stake in shares of Harmony Biosciences by 1,608.1% during the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock worth $77,000 after buying an additional 2,396 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the firm’s stock in a transaction dated 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 document filed with the SEC, which is available through the SEC website. 30.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HRMY has been the subject of a number of analyst reports. Raymond James reissued an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a research note on Thursday, October 10th. Oppenheimer reissued an “outperform” rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research note on Wednesday. UBS Group began coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research note on Tuesday. Finally, 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. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Harmony Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Harmony Biosciences Price Performance

Shares of NASDAQ:HRMY opened at $33.08 on Friday. The business’s fifty day moving average price is $36.36 and its two-hundred day moving average price is $33.10. The stock has a market cap of $1.89 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 0.67 and a beta of 0.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.09 and a current ratio of 3.24. Harmony Biosciences Holdings, Inc. has a one year low of $22.89 and a one year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) 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 business had revenue of $186.00 million for the quarter, compared to analysts’ expectations of $184.07 million. During the same quarter last year, the firm earned $0.63 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. On average, analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.22 EPS for the current fiscal year.

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.