Pacer Advisors Inc. Trims Stock Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Pacer Advisors Inc. cut its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 23.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,928,336 shares of the company’s stock after selling 581,273 shares during the quarter. Pacer Advisors Inc.’s holdings in Harmony Biosciences were worth $77,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its position in shares of Harmony Biosciences by 145.4% in the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock worth $9,220,000 after purchasing an additional 181,092 shares during the period. Rice Hall James & Associates LLC raised its stake in Harmony Biosciences by 42.1% in the second quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company’s stock worth $2,429,000 after buying an additional 23,867 shares in the last quarter. Quest Partners LLC lifted its holdings in Harmony Biosciences by 137.6% in the third quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock worth $1,429,000 after buying an additional 20,689 shares during the period. Renaissance Technologies LLC boosted its position in Harmony Biosciences by 56.7% during the 2nd quarter. Renaissance Technologies LLC now owns 595,800 shares of the company’s stock valued at $17,975,000 after acquiring an additional 215,700 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Harmony Biosciences by 54.1% during the 2nd quarter. Victory Capital Management Inc. now owns 84,964 shares of the company’s stock worth $2,563,000 after acquiring an additional 29,816 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Insider Activity

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 30.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on HRMY. Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research note on Tuesday, October 29th. Cantor Fitzgerald boosted their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Raymond James reaffirmed an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a research note on Thursday, October 10th. Finally, UBS Group assumed coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target on the stock. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Harmony Biosciences Price Performance

Shares of HRMY stock opened at $33.23 on Friday. The firm has a market capitalization of $1.90 billion, a P/E ratio of 15.64, a P/E/G ratio of 0.60 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. Harmony Biosciences Holdings, Inc. has a 52-week low of $27.97 and a 52-week high of $41.61. The stock has a 50 day moving average price of $35.71 and a 200 day moving average price of $33.53.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.15. The company had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. As a group, sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 2.36 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.