Principal Financial Group Inc. Sells 19,654 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Principal Financial Group Inc. decreased its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 10.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,469 shares of the company’s stock after selling 19,654 shares during the period. Principal Financial Group Inc. owned about 0.29% of Harmony Biosciences worth $6,499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors 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 $36,000. CWM LLC increased its position in Harmony Biosciences by 111.7% during the third 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 bought a new position in Harmony Biosciences in the second quarter valued at about $62,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 purchasing an additional 360 shares during the period. Finally, Headlands Technologies LLC increased its position 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 valued at $77,000 after purchasing an additional 2,396 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HRMY shares. Mizuho boosted their target price 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. Oppenheimer reiterated an “outperform” rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Raymond James restated an “outperform” rating and issued a $40.00 price target on shares of Harmony Biosciences in a research report on Thursday, October 10th. UBS Group began coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 price objective for the company. Finally, Cantor Fitzgerald raised their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.00.

Harmony Biosciences Trading Down 1.8 %

HRMY stock opened at $32.48 on Wednesday. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.62 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. Harmony Biosciences Holdings, Inc. has a 1-year low of $27.10 and a 1-year high of $41.61. The business has a 50 day simple moving average of $35.90 and a two-hundred day simple moving average of $33.52.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.15. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. During the same period last year, the company posted $0.63 earnings per share. Harmony Biosciences’s quarterly revenue was up 16.0% on a year-over-year basis. Research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 30.80% of the stock is owned by company insiders.

Harmony Biosciences 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.