Geode Capital Management LLC Has $29.42 Million Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Geode Capital Management LLC cut its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 735,418 shares of the company’s stock after selling 13,285 shares during the quarter. Geode Capital Management LLC owned approximately 1.29% of Harmony Biosciences worth $29,422,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HRMY. Citigroup Inc. increased its position in Harmony Biosciences by 9.8% in the 3rd quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock valued at $7,114,000 after buying an additional 15,859 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Harmony Biosciences by 364.0% during the third quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock valued at $3,199,000 after acquiring an additional 62,729 shares in the last quarter. Quest Partners LLC raised its position in shares of Harmony Biosciences by 137.6% during the third quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock worth $1,429,000 after purchasing an additional 20,689 shares during the period. Marshall Wace LLP lifted its holdings in shares of Harmony Biosciences by 145.4% in the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock worth $9,220,000 after purchasing an additional 181,092 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its position in Harmony Biosciences by 42.1% in the 2nd quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company’s stock valued at $2,429,000 after purchasing an additional 23,867 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. HC Wainwright began coverage on shares of Harmony Biosciences in a report on Tuesday, December 17th. They set a “buy” rating and a $75.00 price objective on the stock. Raymond James reiterated an “outperform” rating and set a $40.00 price target on shares of Harmony Biosciences in a research note on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a report on Tuesday, October 29th. Oppenheimer restated an “outperform” rating and issued a $59.00 target price (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald upped their price target on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating and eight have issued a buy rating to the stock. According to MarketBeat, Harmony Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.80.

Insider Transactions at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 21,496 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 30.80% of the stock is currently owned by company insiders.

Harmony Biosciences Stock Up 1.9 %

Shares of NASDAQ:HRMY opened at $34.72 on Friday. Harmony Biosciences Holdings, Inc. has a 1 year low of $28.14 and a 1 year high of $41.61. The company has a market capitalization of $1.98 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.60 and a beta of 0.79. The business has a fifty day moving average price of $34.18 and a two-hundred day moving average price of $34.22. 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 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.15. The company had revenue of $186.00 million during 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 for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. Analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.36 earnings per share for the current 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.