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

Quest Partners LLC boosted its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 137.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,723 shares of the company’s stock after purchasing an additional 20,689 shares during the quarter. Quest Partners LLC owned about 0.06% of Harmony Biosciences worth $1,429,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in shares of Harmony Biosciences during the 2nd quarter worth about $36,000. CWM LLC raised its stake in Harmony Biosciences by 111.7% during the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after buying an additional 775 shares during the period. Quarry LP bought a new position in Harmony Biosciences in the second quarter worth approximately $62,000. Headlands Technologies LLC grew its stake in Harmony Biosciences by 1,608.1% in the second quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after acquiring an additional 2,396 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 acquiring an additional 360 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. 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 research report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a report on Tuesday, October 29th. Raymond James reiterated an “outperform” rating and set a $40.00 price target on shares of Harmony Biosciences in a research note on Thursday, October 10th. Finally, UBS Group assumed coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price objective for the company. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Harmony Biosciences 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 30.80% of the company’s stock.

Harmony Biosciences Stock Performance

Shares of HRMY opened at $32.48 on Wednesday. The stock has a 50 day moving average of $35.90 and a 200 day moving average of $33.52. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.62 and a beta of 0.77. Harmony Biosciences Holdings, Inc. has a 12 month low of $27.10 and a 12 month high of $41.61. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28.

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 firm had revenue of $186.00 million during 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 business’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. As a group, sell-side analysts forecast 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.