Allspring Global Investments Holdings LLC Reduces Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Allspring Global Investments Holdings LLC cut its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,109 shares of the company’s stock after selling 1,193 shares during the period. Allspring Global Investments Holdings LLC owned about 0.05% of Harmony Biosciences worth $1,244,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. LSV Asset Management boosted its holdings in shares of Harmony Biosciences by 346.5% in the 1st quarter. LSV Asset Management now owns 335,146 shares of the company’s stock valued at $11,254,000 after purchasing an additional 260,093 shares during the last quarter. American Century Companies Inc. grew its stake in Harmony Biosciences by 53.7% in the second quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock worth $20,562,000 after purchasing an additional 238,140 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Harmony Biosciences by 56.7% during the 2nd quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock valued at $17,975,000 after buying an additional 215,700 shares during the last quarter. Capital Management Corp VA acquired a new position in shares of Harmony Biosciences during the first quarter worth approximately $7,018,000. Finally, Marshall Wace LLP increased its position in shares of Harmony Biosciences by 145.4% during the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after purchasing an additional 181,092 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jeffrey Dierks sold 21,496 shares of the company’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 filing with the Securities & Exchange Commission, which is available at this link. 30.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HRMY has been the subject of a number of recent analyst reports. Cantor Fitzgerald raised their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research note on Tuesday. Oppenheimer restated an “outperform” rating and set a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday. UBS Group initiated coverage on Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target for the company. Finally, Mizuho raised their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Harmony Biosciences Stock Down 4.9 %

NASDAQ HRMY opened at $32.13 on Friday. Harmony Biosciences Holdings, Inc. has a 1-year low of $22.00 and a 1-year high of $41.61. The company has a current ratio of 3.13, a quick ratio of 3.09 and a debt-to-equity ratio of 0.32. The stock’s 50 day moving average is $36.44 and its two-hundred day moving average is $33.11. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 0.69 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. The company had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. Harmony Biosciences had a return on equity of 22.97% and a net margin of 17.53%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the business earned $0.63 earnings per share. Equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.23 earnings per share 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.