abrdn plc Trims Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

abrdn plc trimmed its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 8.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 533,189 shares of the company’s stock after selling 48,455 shares during the quarter. abrdn plc’s holdings in Harmony Biosciences were worth $17,222,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of Harmony Biosciences by 534,795.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,224,910 shares of the company’s stock valued at $39,565,000 after acquiring an additional 1,224,681 shares in the last quarter. Federated Hermes Inc. lifted its stake in Harmony Biosciences by 2,132.8% in the fourth quarter. Federated Hermes Inc. now owns 525,337 shares of the company’s stock worth $16,968,000 after acquiring an additional 501,809 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in Harmony Biosciences by 18.3% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,420,000 shares of the company’s stock worth $46,533,000 after acquiring an additional 220,000 shares in the last quarter. HealthInvest Partners AB purchased a new position in Harmony Biosciences during the 4th quarter valued at about $4,684,000. Finally, Vanguard Group Inc. raised its holdings in shares of Harmony Biosciences by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 3,684,152 shares of the company’s stock valued at $120,730,000 after purchasing an additional 88,295 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 11,979 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $32.00, for a total transaction of $383,328.00. The sale was disclosed in a filing with the SEC, which is available through this link. 30.80% of the stock is currently owned by insiders.

Harmony Biosciences Trading Up 1.3 %

Shares of NASDAQ:HRMY opened at $29.23 on Thursday. The company has a quick ratio of 2.72, a current ratio of 2.75 and a debt-to-equity ratio of 0.38. Harmony Biosciences Holdings, Inc. has a 52-week low of $18.61 and a 52-week high of $39.26. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.40 and a beta of 0.73. The business has a 50-day moving average price of $31.58 and a 200-day moving average price of $30.01.

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