Hennion & Walsh Asset Management Inc. Sells 2,458 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Hennion & Walsh Asset Management Inc. cut its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 14.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,307 shares of the company’s stock after selling 2,458 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Harmony Biosciences were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its stake in shares of Harmony Biosciences by 534,795.2% during the fourth quarter. Pacer Advisors Inc. now owns 1,224,910 shares of the company’s stock worth $39,565,000 after buying an additional 1,224,681 shares during the last quarter. Federated Hermes Inc. increased its holdings in Harmony Biosciences by 2,132.8% in the 4th quarter. Federated Hermes Inc. now owns 525,337 shares of the company’s stock worth $16,968,000 after purchasing an additional 501,809 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Harmony Biosciences by 18.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,420,000 shares of the company’s stock valued at $46,533,000 after purchasing an additional 220,000 shares during the last quarter. HealthInvest Partners AB acquired a new stake in shares of Harmony Biosciences during the fourth quarter valued at about $4,684,000. Finally, Vanguard Group Inc. grew its holdings in shares of Harmony Biosciences by 2.5% during the third quarter. Vanguard Group Inc. now owns 3,684,152 shares of the company’s stock worth $120,730,000 after purchasing an additional 88,295 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HRMY shares. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a report on Monday, June 24th. Citigroup began coverage on shares of Harmony Biosciences in a report on Friday, June 21st. They set a “buy” rating and a $48.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $49.00 price objective on shares of Harmony Biosciences in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.67.

Harmony Biosciences Stock Performance

Shares of HRMY opened at $30.00 on Wednesday. The firm’s fifty day simple moving average is $29.97 and its two-hundred day simple moving average is $31.19. Harmony Biosciences Holdings, Inc. has a 12 month low of $18.61 and a 12 month high of $39.26. The company has a current ratio of 3.11, a quick ratio of 3.07 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $1.70 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 0.68 and a beta of 0.72.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, April 30th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. Harmony Biosciences had a return on equity of 28.26% and a net margin of 22.30%. The business had revenue of $154.62 million during the quarter, compared to analysts’ expectations of $154.10 million. During the same quarter last year, the firm posted $0.48 earnings per share. The firm’s revenue was up 29.8% on a year-over-year basis. As a group, analysts predict that Harmony Biosciences Holdings, Inc. will post 1.96 EPS for the current year.

Harmony Biosciences Company 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.