abrdn plc Sells 48,455 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

abrdn plc reduced its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 8.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 533,189 shares of the company’s stock after selling 48,455 shares during the period. abrdn plc owned approximately 0.91% of Harmony Biosciences worth $17,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its holdings in shares of Harmony Biosciences by 0.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 40,889 shares of the company’s stock valued at $1,321,000 after buying an additional 328 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in 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 buying an additional 697 shares during the period. Oregon Public Employees Retirement Fund grew its stake 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 buying an additional 700 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of Harmony Biosciences by 4.5% in the third quarter. Yousif Capital Management LLC now owns 16,683 shares of the company’s stock worth $547,000 after buying an additional 721 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Harmony Biosciences by 95.3% in the 3rd 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 last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 11,979 shares of Harmony Biosciences stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $32.00, for a total value of $383,328.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 30.80% of the stock is currently owned by insiders.

Harmony Biosciences Stock Up 1.3 %

Shares of Harmony Biosciences stock opened at $29.23 on Thursday. The firm 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 company has a debt-to-equity ratio of 0.38, a current ratio of 2.75 and a quick ratio of 2.72. Harmony Biosciences Holdings, Inc. has a 1 year low of $18.61 and a 1 year high of $39.26. The company has a 50-day moving average of $31.58 and a 200 day moving average of $30.01.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.29). The company 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 for the quarter was up 31.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. As a group, sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3 earnings per share for the current fiscal 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.