Citigroup Inc. Increases Stock Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Citigroup Inc. grew its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,843 shares of the company’s stock after purchasing an additional 15,859 shares during the period. Citigroup Inc. owned approximately 0.31% of Harmony Biosciences worth $7,114,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Harmony Biosciences by 21.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock valued at $80,000 after buying an additional 360 shares during the last quarter. Profund Advisors LLC grew its holdings in shares of Harmony Biosciences by 11.1% in the second quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock valued at $228,000 after purchasing an additional 758 shares in the last quarter. CWM LLC increased its position in Harmony Biosciences by 111.7% in the third quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after purchasing an additional 775 shares during the last quarter. Summit Global Investments raised its stake in Harmony Biosciences by 4.2% during the second quarter. Summit Global Investments now owns 20,164 shares of the company’s stock valued at $608,000 after purchasing an additional 807 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Harmony Biosciences by 0.7% during the second quarter. AQR Capital Management LLC now owns 154,345 shares of the company’s stock valued at $4,657,000 after purchasing an additional 1,116 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on HRMY. Cantor Fitzgerald boosted their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Mizuho boosted their target price on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Finally, Raymond James restated an “outperform” rating and issued a $40.00 price target on shares of Harmony Biosciences in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.00.

Insider Buying and Selling at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 30.80% of the stock is owned by corporate insiders.

Harmony Biosciences Price Performance

HRMY opened at $34.67 on Friday. The business has a fifty day moving average of $35.16 and a 200 day moving average of $33.72. The stock has a market cap of $1.98 billion, a P/E ratio of 16.43, a PEG ratio of 0.66 and a beta of 0.77. 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 52-week low of $28.14 and a 52-week high of $41.61.

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

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.