Harmony Biosciences Holdings, Inc. $HRMY Stock Bought by Profund Advisors LLC

Profund Advisors LLC grew its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 311.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,094 shares of the company’s stock after purchasing an additional 29,599 shares during the period. Profund Advisors LLC’s holdings in Harmony Biosciences were worth $1,535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HRMY. IFP Advisors Inc grew its stake in Harmony Biosciences by 3.7% in the third quarter. IFP Advisors Inc now owns 8,399 shares of the company’s stock valued at $330,000 after acquiring an additional 297 shares during the period. Farther Finance Advisors LLC raised its position in shares of Harmony Biosciences by 166.7% during the third quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock worth $32,000 after purchasing an additional 510 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Harmony Biosciences by 3.8% during the first quarter. Illinois Municipal Retirement Fund now owns 20,020 shares of the company’s stock worth $561,000 after purchasing an additional 727 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Harmony Biosciences by 4.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,566 shares of the company’s stock valued at $640,000 after purchasing an additional 787 shares in the last quarter. Finally, Nykredit A S bought a new position in shares of Harmony Biosciences during the 2nd quarter valued at about $33,000. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Trading Down 2.2%

NASDAQ HRMY opened at $37.91 on Tuesday. The company has a market cap of $2.21 billion, a PE ratio of 12.31, a PEG ratio of 0.31 and a beta of 1.01. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.90 and a 12 month high of $43.49. The stock has a 50 day moving average of $39.76 and a 200-day moving average of $34.74.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The business had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. During the same period last year, the business posted $0.92 EPS. Harmony Biosciences’s revenue was up 30.3% on a year-over-year basis. On average, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.73 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on HRMY shares. UBS Group restated a “neutral” rating and set a $37.00 target price on shares of Harmony Biosciences in a report on Wednesday, August 5th. LADENBURG THALM/SH SH started coverage on shares of Harmony Biosciences in a report on Thursday, October 15th. They issued a “buy” rating and a $55.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a research report on Monday, October 19th. Wall Street Zen downgraded shares of Harmony Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $42.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Insider Activity at Harmony Biosciences

In related news, insider Kumar Budur sold 35,852 shares of the business’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $43.05, for a total value of $1,543,428.60. Following the completion of the sale, the insider directly owned 13,115 shares in the company, valued at $564,600.75. The trade was a 73.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 72,406 shares of company stock worth $3,108,520. Insiders own 11.00% of the company’s stock.

Harmony Biosciences Profile

Harmony Biosciences Holdings, Inc is a commercial-stage biopharmaceutical company focused on developing and providing therapies for patients with rare neurological disorders. The company’s activities center on conditions involving sleep-wake regulation and other central nervous system disorders where treatment options may be limited.

Harmony’s principal product is WAKIX (pitolisant), an oral, non-scheduled treatment that acts as a histamine-3 receptor antagonist/inverse agonist. In the United States, WAKIX is approved for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy and for excessive daytime sleepiness in pediatric patients aged 6 and older with narcolepsy.