Cornercap Investment Counsel Inc. Has $352,000 Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Cornercap Investment Counsel Inc. cut its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 49.4% during the third quarter, Holdings Channel reports. The fund owned 8,790 shares of the company’s stock after selling 8,576 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Harmony Biosciences were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Harmony Biosciences by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $80,000 after acquiring an additional 360 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Harmony Biosciences by 7.0% during the 1st quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock valued at $352,000 after acquiring an additional 684 shares during the period. Profund Advisors LLC lifted its position in shares of Harmony Biosciences by 11.1% during the 2nd quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock valued at $228,000 after acquiring an additional 758 shares during the period. CWM LLC lifted its position in shares of Harmony Biosciences by 111.7% during the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after acquiring an additional 775 shares during the period. Finally, Summit Global Investments lifted its position in shares of Harmony Biosciences by 4.2% during the 2nd quarter. Summit Global Investments now owns 20,164 shares of the company’s stock valued at $608,000 after acquiring an additional 807 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 30.80% of the company’s stock.

Harmony Biosciences Trading Up 0.7 %

NASDAQ HRMY opened at $33.22 on Monday. The business has a 50 day simple moving average of $35.98 and a 200 day simple moving average of $33.49. Harmony Biosciences Holdings, Inc. has a one year low of $24.70 and a one year high of $41.61. The stock has a market capitalization of $1.89 billion, a P/E ratio of 15.74, a P/E/G ratio of 0.62 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.15. The business had revenue of $186.00 million for 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 company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. Research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HRMY. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Mizuho upped their price objective on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. UBS Group began coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price objective for the company. Oppenheimer restated an “outperform” rating and set a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald upped their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

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.