Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Stock Holdings Lowered by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 30.4% during the fourth quarter, Holdings Channel reports. The fund owned 34,875 shares of the company’s stock after selling 15,256 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Harmony Biosciences were worth $1,126,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Exchange Traded Concepts LLC raised its holdings in shares of Harmony Biosciences by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 40,889 shares of the company’s stock valued at $1,321,000 after acquiring an additional 328 shares during the period. Maryland State Retirement & Pension System raised its holdings in shares of Harmony Biosciences by 6.0% during the third quarter. Maryland State Retirement & Pension System now owns 12,376 shares of the company’s stock valued at $406,000 after acquiring an additional 697 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Harmony Biosciences by 7.5% during the third quarter. Oregon Public Employees Retirement Fund now owns 10,026 shares of the company’s stock valued at $329,000 after acquiring an additional 700 shares during the period. Yousif Capital Management LLC raised its holdings in shares of Harmony Biosciences by 4.5% during the third quarter. Yousif Capital Management LLC now owns 16,683 shares of the company’s stock valued at $547,000 after acquiring an additional 721 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Harmony Biosciences by 95.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock valued at $50,000 after acquiring an additional 748 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

HRMY stock opened at $28.85 on Wednesday. The company has a quick ratio of 2.72, a current ratio of 2.75 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 0.41 and a beta of 0.73. Harmony Biosciences Holdings, Inc. has a 12 month low of $18.61 and a 12 month high of $39.26. The firm has a 50 day moving average of $31.68 and a two-hundred day moving average of $30.01.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Thursday, February 22nd. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.29). The business had revenue of $168.40 million during the quarter, compared to the consensus estimate of $168.90 million. Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The business’s revenue was up 31.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 earnings per share. As a group, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HRMY shares. Bank of America restated an “underperform” rating and set a $30.00 price target on shares of Harmony Biosciences in a report on Tuesday, January 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, April 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research note on Friday, April 12th. Mizuho dropped their price objective on shares of Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, The Goldman Sachs Group upped their price objective on shares of Harmony Biosciences from $25.00 to $28.00 and gave the company a “sell” rating in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat, Harmony Biosciences currently has an average rating of “Moderate Buy” and an average price target of $40.63.

Insiders Place Their Bets

In related news, insider Jeffrey Dierks sold 11,979 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $32.00, for a total transaction of $383,328.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 30.80% of the company’s stock.

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.