The Manufacturers Life Insurance Company Cuts Stock Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,452 shares of the company’s stock after selling 477 shares during the period. The Manufacturers Life Insurance Company’s holdings in Harmony Biosciences were worth $527,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Harmony Biosciences in the 2nd quarter valued at $36,000. Headlands Technologies LLC increased its holdings in Harmony Biosciences by 1,608.1% in the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after purchasing an additional 2,396 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Harmony Biosciences by 98.3% in the 1st quarter. Lazard Asset Management LLC now owns 4,542 shares of the company’s stock valued at $152,000 after purchasing an additional 2,251 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Harmony Biosciences in the 2nd quarter valued at $138,000. Finally, Profund Advisors LLC increased its holdings in Harmony Biosciences by 11.1% in the 2nd 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. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $35.50 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13. Harmony Biosciences Holdings, Inc. has a one year low of $18.79 and a one year high of $40.60. The company’s 50-day simple moving average is $36.34 and its 200-day simple moving average is $32.79. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.67 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.24. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The business had revenue of $172.80 million for the quarter, compared to analysts’ expectations of $172.53 million. During the same quarter last year, the company posted $0.56 earnings per share. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. Equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho increased their price target on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. UBS Group started coverage on shares of Harmony Biosciences in a research report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price objective for the company. Citigroup started coverage on shares of Harmony Biosciences in a research report on Friday, June 21st. They issued a “buy” rating and a $48.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, October 2nd. Finally, Raymond James reissued an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Harmony Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $44.11.

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.