Harmony Biosciences Holdings, Inc. $HRMY Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 21.4% during the 1st quarter, HoldingsChannel reports. The fund owned 163,107 shares of the company’s stock after selling 44,286 shares during the period. Pictet Asset Management Holding SA’s holdings in Harmony Biosciences were worth $4,397,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of HRMY. EverSource Wealth Advisors LLC raised its holdings in Harmony Biosciences by 589.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after purchasing an additional 643 shares during the period. Allworth Financial LP grew its holdings in Harmony Biosciences by 286.7% in the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after purchasing an additional 602 shares during the period. Leonteq Securities AG acquired a new stake in Harmony Biosciences in the fourth quarter valued at approximately $30,000. National Bank of Canada FI purchased a new stake in shares of Harmony Biosciences in the third quarter valued at approximately $40,000. Finally, Clearstead Advisors LLC increased its position in shares of Harmony Biosciences by 145.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after buying an additional 699 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HRMY has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Harmony Biosciences from $30.00 to $36.00 and gave the company a “hold” rating in a research report on Tuesday. Zacks Research upgraded shares of Harmony Biosciences from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. HC Wainwright reaffirmed a “buy” rating on shares of Harmony Biosciences in a report on Wednesday, June 24th. Truist Financial lifted their target price on shares of Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Finally, Weiss Ratings raised shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.44.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $37.26 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.58 and a quick ratio of 3.56. The stock’s 50 day simple moving average is $32.54 and its 200-day simple moving average is $32.87. The company has a market cap of $2.16 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.35 and a beta of 0.94. Harmony Biosciences Holdings, Inc. has a 1-year low of $25.52 and a 1-year high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The firm had revenue of $215.39 million for the quarter, compared to analysts’ expectations of $220.84 million. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.26 EPS for the current fiscal year.

Harmony Biosciences Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.