Principal Financial Group Inc. Lowers Stock Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Principal Financial Group Inc. trimmed its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 10.8% during the 3rd 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 quarter. Principal Financial Group Inc. owned approximately 0.28% of Harmony Biosciences worth $6,499,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. LSV Asset Management raised its position in shares of Harmony Biosciences by 72.5% in the 2nd quarter. LSV Asset Management now owns 578,246 shares of the company’s stock worth $17,446,000 after acquiring an additional 243,100 shares in 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 valued at $20,562,000 after purchasing an additional 238,140 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Harmony Biosciences by 56.7% in 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 in the last quarter. Marshall Wace LLP lifted its position in shares of Harmony Biosciences by 145.4% during the second quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after buying an additional 181,092 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Harmony Biosciences by 27.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock valued at $26,416,000 after buying an additional 140,690 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Up 1.0 %

HRMY stock opened at $34.41 on Thursday. The company has a market capitalization of $1.96 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 0.60 and a beta of 0.79. Harmony Biosciences Holdings, Inc. has a 12 month low of $28.14 and a 12 month high of $41.61. The firm’s fifty day simple moving average is $34.13 and its 200-day simple moving average is $34.39. 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 (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.64 by $0.15. The company had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 earnings per share. As a group, equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.36 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HRMY. Oppenheimer reissued an “outperform” rating and set a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Cantor Fitzgerald raised their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Mizuho increased their price target on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a report on Tuesday, October 29th. Finally, Raymond James restated an “outperform” rating and set a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.80.

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the 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 filing with the SEC, which is accessible through this link. 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.