Nan Fung Group Holdings Ltd Sells 341,616 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Nan Fung Group Holdings Ltd lowered its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 92.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 27,049 shares of the company’s stock after selling 341,616 shares during the period. Harmony Biosciences comprises 1.2% of Nan Fung Group Holdings Ltd’s investment portfolio, making the stock its 18th biggest position. Nan Fung Group Holdings Ltd’s holdings in Harmony Biosciences were worth $745,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners bought a new stake in Harmony Biosciences in the second quarter worth approximately $19,398,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Harmony Biosciences by 127.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company’s stock worth $28,658,000 after purchasing an additional 508,498 shares during the last quarter. UBS Group AG raised its holdings in shares of Harmony Biosciences by 213.3% during the 3rd quarter. UBS Group AG now owns 503,081 shares of the company’s stock valued at $13,865,000 after purchasing an additional 342,505 shares in the last quarter. Nomura Holdings Inc. lifted its stake in shares of Harmony Biosciences by 382.3% in the 2nd quarter. Nomura Holdings Inc. now owns 422,919 shares of the company’s stock valued at $13,364,000 after purchasing an additional 335,237 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Harmony Biosciences by 36.3% in the 2nd quarter. Marshall Wace LLP now owns 1,209,484 shares of the company’s stock valued at $38,220,000 after purchasing an additional 321,947 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Mizuho set a $50.00 price objective on Harmony Biosciences in a research note on Thursday, February 19th. Wall Street Zen cut shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Harmony Biosciences in a report on Monday, December 29th. Truist Financial lowered shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research report on Monday, February 23rd. Finally, Zacks Research downgraded Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Harmony Biosciences has a consensus rating of “Hold” and a consensus price target of $42.67.

Harmony Biosciences Price Performance

Shares of Harmony Biosciences stock opened at $27.61 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.60 and a quick ratio of 3.58. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $40.87. The firm has a fifty day moving average price of $34.09 and a two-hundred day moving average price of $33.49. The company has a market cap of $1.60 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 0.38 and a beta of 0.88.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.46). The company had revenue of $243.78 million for the quarter, compared to the consensus estimate of $240.04 million. Harmony Biosciences had a return on equity of 19.86% and a net margin of 18.29%.The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.85 EPS. Analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences news, CFO Sandip Kapadia sold 20,961 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $35.92, for a total value of $752,919.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 23.60% of the stock is owned by corporate insiders.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.