Rice Hall James & Associates LLC Sells 1,241 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Rice Hall James & Associates LLC decreased its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,271 shares of the company’s stock after selling 1,241 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.14% of Harmony Biosciences worth $3,171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its position in Harmony Biosciences by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after purchasing an additional 360 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Harmony Biosciences by 1.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock worth $1,184,000 after purchasing an additional 397 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in shares of Harmony Biosciences by 1.8% in the first quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock worth $964,000 after purchasing an additional 517 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Harmony Biosciences by 7.0% in the first quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock worth $352,000 after purchasing an additional 684 shares during the last quarter. Finally, Profund Advisors LLC raised its position in Harmony Biosciences by 11.1% during the second quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock valued at $228,000 after acquiring an additional 758 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday. Mizuho raised their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Cantor Fitzgerald raised their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday. Raymond James reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Harmony Biosciences in a research note on Thursday, October 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research note on Tuesday. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Harmony Biosciences presently has an average rating of “Moderate Buy” and an average price target of $47.00.

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 30.80% of the company’s stock.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $33.08 on Friday. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $22.89 and a fifty-two week high of $41.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.09 and a current ratio of 3.24. The firm has a market capitalization of $1.89 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 0.67 and a beta of 0.73. The stock’s fifty day moving average is $36.36 and its two-hundred day moving average is $33.10.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company had revenue of $186.00 million for the quarter, compared to the consensus estimate of $184.07 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.22 earnings per share for the current year.

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.