Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,050 shares of the company’s stock after selling 5,994 shares during the quarter. Principal Financial Group Inc. owned approximately 0.34% of Harmony Biosciences worth $6,449,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its position in Harmony Biosciences by 60.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,893 shares of the company’s stock worth $366,000 after acquiring an additional 4,116 shares during the period. Prairiewood Capital LLC acquired a new stake in Harmony Biosciences during the 1st quarter worth approximately $384,000. Oakworth Capital Inc. lifted its position in Harmony Biosciences by 111.8% during the 1st quarter. Oakworth Capital Inc. now owns 9,675 shares of the company’s stock worth $325,000 after acquiring an additional 5,107 shares during the period. Hedeker Wealth LLC acquired a new stake in Harmony Biosciences during the 1st quarter worth approximately $2,627,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Harmony Biosciences by 1.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock worth $1,184,000 after acquiring an additional 397 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Price Performance

Shares of HRMY stock remained flat at $30.89 during trading hours on Friday. The stock had a trading volume of 68,710 shares, compared to its average volume of 380,891. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $39.26. The firm has a market cap of $1.75 billion, a P/E ratio of 13.37, a P/E/G ratio of 0.68 and a beta of 0.72. The business’s 50-day simple moving average is $30.04 and its 200 day simple moving average is $31.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.07 and a current ratio of 3.11.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. The firm had revenue of $154.62 million during the quarter, compared to the consensus estimate of $154.10 million. Harmony Biosciences had a return on equity of 28.26% and a net margin of 22.30%. Harmony Biosciences’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. As a group, analysts predict that Harmony Biosciences Holdings, Inc. will post 2.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HRMY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a research report on Monday, June 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $49.00 price objective on shares of Harmony Biosciences in a research report on Friday, April 12th. Finally, Citigroup began coverage on Harmony Biosciences in a research report on Friday, June 21st. They set a “buy” rating and a $48.00 price objective for the company. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.67.

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.