Quest Partners LLC Acquires 20,689 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Quest Partners LLC grew its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 137.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 35,723 shares of the company’s stock after buying an additional 20,689 shares during the period. Quest Partners LLC’s holdings in Harmony Biosciences were worth $1,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. LSV Asset Management boosted its position in shares of Harmony Biosciences by 72.5% in the second quarter. LSV Asset Management now owns 578,246 shares of the company’s stock valued at $17,446,000 after acquiring an additional 243,100 shares during the period. American Century Companies Inc. boosted its holdings in Harmony Biosciences by 53.7% in the 2nd quarter. American Century Companies Inc. now owns 681,536 shares of the company’s stock valued at $20,562,000 after purchasing an additional 238,140 shares during the period. Renaissance Technologies LLC grew its position in shares of 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 purchasing an additional 215,700 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Harmony Biosciences by 145.4% in the second 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. Finally, Janus Henderson Group PLC raised its position in shares of Harmony Biosciences by 1,011.7% in the first quarter. Janus Henderson Group PLC now owns 185,083 shares of the company’s stock worth $6,214,000 after buying an additional 168,434 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Stock Performance

Harmony Biosciences stock opened at $32.48 on Wednesday. The firm has a fifty day simple moving average of $35.90 and a two-hundred day simple moving average of $33.52. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a twelve month low of $27.10 and a twelve month high of $41.61. The company has a market capitalization of $1.85 billion, a PE ratio of 15.39, a P/E/G ratio of 0.62 and a beta of 0.77.

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

Analyst Ratings Changes

HRMY has been the subject of several recent analyst reports. Cantor Fitzgerald boosted their target price on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Mizuho upped their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Raymond James reissued an “outperform” rating and issued a $40.00 price target on shares of Harmony Biosciences in a research note on Thursday, October 10th. Finally, UBS Group started coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Insider Transactions at Harmony Biosciences

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

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.