CX Institutional Decreases Holdings in Harmony Biosciences Holdings, Inc. $HRMY

CX Institutional lowered its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 16.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 217,882 shares of the company’s stock after selling 41,614 shares during the quarter. CX Institutional’s holdings in Harmony Biosciences were worth $8,554,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in Harmony Biosciences by 589.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after purchasing an additional 643 shares in the last quarter. Nykredit A S purchased a new position in Harmony Biosciences in the 2nd quarter worth approximately $33,000. Clearstead Advisors LLC grew its stake in Harmony Biosciences by 145.9% in the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after buying an additional 699 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Harmony Biosciences in the 2nd quarter worth $65,000. Finally, Allworth Financial LP bought a new position in shares of Harmony Biosciences in the 2nd quarter worth $71,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Insiders Place Their Bets

In related news, insider Kumar Budur sold 35,852 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $43.05, for a total transaction of $1,543,428.60. Following the transaction, the insider directly owned 13,115 shares in the company, valued at $564,600.75. This trade represents a 73.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 72,406 shares of company stock worth $3,108,520. Corporate insiders own 11.00% of the company’s stock.

Harmony Biosciences Trading Up 0.2%

Harmony Biosciences stock traded up $0.07 during mid-day trading on Friday, hitting $39.64. The company’s stock had a trading volume of 867,931 shares, compared to its average volume of 868,715. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.48 and a quick ratio of 3.45. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 0.36 and a beta of 1.01. The business has a 50 day moving average price of $39.59 and a 200-day moving average price of $34.54. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.52 and a 12 month high of $43.49.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. The firm had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period last year, the firm earned $0.92 earnings per share. As a group, analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.79 EPS for the current year.

Analysts Set New Price Targets

HRMY has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a research report on Thursday, July 16th. Truist Financial lifted their price target on Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Needham & Company LLC upped their price objective on Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Wolfe Research started coverage on Harmony Biosciences in a research report on Wednesday, August 26th. They set an “outperform” rating and a $60.00 price objective on the stock. Finally, Wall Street Zen raised Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.44.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial-stage pharmaceutical company focused on developing and marketing therapies for patients with rare neurological disorders. The company’s activities center on conditions that are often underserved by conventional treatment options, including sleep disorders and other central nervous system diseases.

Harmony’s principal product is WAKIX (pitolisant), an oral, non-scheduled medication that acts as a histamine-3 receptor antagonist/inverse agonist.