Yelin Lapidot Holdings Management Ltd. Cuts Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Yelin Lapidot Holdings Management Ltd. reduced its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,887 shares of the company’s stock after selling 2,018 shares during the period. Yelin Lapidot Holdings Management Ltd. owned about 0.06% of Harmony Biosciences worth $1,235,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in HRMY. Pacer Advisors Inc. boosted its position in Harmony Biosciences by 18.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock valued at $78,452,000 after buying an additional 351,582 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Harmony Biosciences by 27.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock worth $26,416,000 after acquiring an additional 140,690 shares in the last quarter. HealthInvest Partners AB boosted its holdings in Harmony Biosciences by 335.2% in the third quarter. HealthInvest Partners AB now owns 151,875 shares of the company’s stock valued at $6,075,000 after purchasing an additional 116,975 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Harmony Biosciences by 68.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock valued at $9,217,000 after purchasing an additional 93,622 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in Harmony Biosciences by 364.0% during the 3rd quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock worth $3,199,000 after purchasing an additional 62,729 shares during the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Harmony Biosciences

In related news, CEO Jeffrey M. Dayno sold 19,293 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total value of $774,228.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Dierks sold 1,629 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $38.02, for a total transaction of $61,934.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,452 shares of company stock worth $2,831,679. Insiders own 30.80% of the company’s stock.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY opened at $32.75 on Friday. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $36.66 and its two-hundred day moving average price is $35.81. Harmony Biosciences Holdings, Inc. has a 52-week low of $28.14 and a 52-week high of $41.61. The stock has a market capitalization of $1.87 billion, a P/E ratio of 15.52, a P/E/G ratio of 0.47 and a beta of 0.80.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $201.30 million during the quarter, compared to analyst estimates of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Mizuho reduced their target price on Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective on the stock. HC Wainwright dropped their target price on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Harmony Biosciences in a research report on Tuesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $53.11.

About Harmony Biosciences

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.