Charles Schwab Investment Management Inc. Sells 3,266 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Charles Schwab Investment Management Inc. cut its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 371,442 shares of the company’s stock after selling 3,266 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.65% of Harmony Biosciences worth $14,858,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. nVerses Capital LLC purchased a new position in Harmony Biosciences in the second quarter valued at approximately $36,000. CWM LLC raised its stake in shares of Harmony Biosciences by 111.7% in the third quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after buying an additional 775 shares during the period. Quarry LP purchased a new position in shares of Harmony Biosciences during the 2nd quarter valued at $62,000. Headlands Technologies LLC grew its stake 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 worth $77,000 after acquiring an additional 2,396 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Harmony Biosciences by 21.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $80,000 after acquiring an additional 360 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on HRMY. UBS Group started coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price objective on the stock. Oppenheimer restated an “outperform” rating and set a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Mizuho lifted their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Raymond James restated an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a research report on Thursday, October 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.00.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 30.80% of the stock is owned by insiders.

Harmony Biosciences Stock Up 0.8 %

HRMY opened at $33.76 on Friday. The firm has a market capitalization of $1.93 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 0.65 and a beta of 0.79. Harmony Biosciences Holdings, Inc. has a one year low of $28.14 and a one year high of $41.61. The company has a fifty day moving average price of $34.75 and a 200-day moving average price of $33.89. 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 earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.64 by $0.15. The business 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 23.16% and a net margin of 17.98%. The firm’s revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 earnings per share. Equities research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.36 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.