HighTower Advisors LLC Has $392,000 Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

HighTower Advisors LLC reduced its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 85.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,401 shares of the company’s stock after selling 68,560 shares during the quarter. HighTower Advisors LLC’s holdings in Harmony Biosciences were worth $392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pacer Advisors Inc. increased its position in shares of Harmony Biosciences by 18.2% during the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock worth $78,452,000 after purchasing an additional 351,582 shares in the last quarter. Capital Management Corp VA raised its position in Harmony Biosciences by 43.5% in the 4th quarter. Capital Management Corp VA now owns 340,960 shares of the company’s stock valued at $11,732,000 after purchasing an additional 103,308 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Harmony Biosciences by 27.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 472,028 shares of the company’s stock worth $16,242,000 after purchasing an additional 100,586 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Harmony Biosciences by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock worth $9,217,000 after purchasing an additional 93,622 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Harmony Biosciences by 112.5% in the fourth quarter. Victory Capital Management Inc. now owns 146,609 shares of the company’s stock valued at $5,045,000 after buying an additional 77,611 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Stock Performance

HRMY stock opened at $33.19 on Tuesday. The business’s fifty day moving average is $35.90 and its 200-day moving average is $35.44. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The company has a market cap of $1.90 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. Harmony Biosciences Holdings, Inc. has a twelve month low of $28.14 and a twelve month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company had revenue of $201.30 million for the quarter, compared to analyst estimates of $201.25 million. During the same period in the previous year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. Equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. HC Wainwright lowered their price objective on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Harmony Biosciences in a research note on Tuesday, February 25th. Mizuho boosted their price objective on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 18th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price for the company. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $53.33.

Insiders Place Their Bets

In other news, insider Jeffrey Dierks sold 10,507 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total transaction of $388,864.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandip Kapadia sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total value of $1,004,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 72,452 shares of company stock valued at $2,831,679 over the last 90 days. 30.80% of the stock is currently owned by insiders.

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.