Hussman Strategic Advisors Inc. Has $678,000 Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Hussman Strategic Advisors Inc. trimmed its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 32.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,000 shares of the company’s stock after selling 10,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Harmony Biosciences were worth $678,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HRMY. BlackRock Inc. lifted its holdings in Harmony Biosciences by 15.9% during the 2nd quarter. BlackRock Inc. now owns 5,750,478 shares of the company’s stock worth $202,359,000 after buying an additional 790,338 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Harmony Biosciences by 2.5% during the third quarter. Vanguard Group Inc. now owns 3,684,152 shares of the company’s stock valued at $120,730,000 after acquiring an additional 88,295 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in Harmony Biosciences by 18.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,420,000 shares of the company’s stock valued at $46,533,000 after acquiring an additional 220,000 shares during the last quarter. Pacer Advisors Inc. increased its position in Harmony Biosciences by 534,795.2% in the fourth quarter. Pacer Advisors Inc. now owns 1,224,910 shares of the company’s stock worth $39,565,000 after purchasing an additional 1,224,681 shares during the period. Finally, State Street Corp raised its holdings in Harmony Biosciences by 9.3% during the 2nd quarter. State Street Corp now owns 1,140,934 shares of the company’s stock worth $40,149,000 after purchasing an additional 97,337 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, insider Jeffrey Dierks sold 11,979 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $32.00, for a total value of $383,328.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 30.80% of the company’s stock.

Harmony Biosciences Stock Performance

Shares of Harmony Biosciences stock opened at $29.40 on Monday. The stock’s fifty day simple moving average is $31.86 and its 200 day simple moving average is $30.06. The company has a current ratio of 2.75, a quick ratio of 2.72 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.67 billion, a PE ratio of 13.87, a PEG 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.

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