Hennion & Walsh Asset Management Inc. Decreases Stock Holdings in Harmony Biosciences Holdings, Inc. $HRMY

Hennion & Walsh Asset Management Inc. reduced its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 50.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,408 shares of the company’s stock after selling 46,946 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.08% of Harmony Biosciences worth $1,653,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. City Center Advisors LLC grew its holdings in Harmony Biosciences by 10.8% in the 2nd quarter. City Center Advisors LLC now owns 9,625 shares of the company’s stock worth $350,000 after acquiring an additional 939 shares during the last quarter. CX Institutional raised its stake in shares of Harmony Biosciences by 6.1% during the second quarter. CX Institutional now owns 259,496 shares of the company’s stock valued at $9,448,000 after acquiring an additional 14,809 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Harmony Biosciences by 9.7% during the first quarter. Pacer Advisors Inc. now owns 318,527 shares of the company’s stock valued at $8,922,000 after acquiring an additional 28,174 shares during the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of Harmony Biosciences by 65.0% during the first quarter. Segall Bryant & Hamill LLC now owns 30,059 shares of the company’s stock worth $842,000 after purchasing an additional 11,841 shares during the period. Finally, Edgestream Partners L.P. boosted its holdings in shares of Harmony Biosciences by 52.1% during the first quarter. Edgestream Partners L.P. now owns 138,130 shares of the company’s stock worth $3,869,000 after purchasing an additional 47,303 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. UBS Group restated a “neutral” rating and set a $37.00 price target on shares of Harmony Biosciences in a report on Wednesday, August 5th. HC Wainwright reiterated a “buy” rating and issued a $55.00 price objective on shares of Harmony Biosciences in a research report on Thursday, July 16th. Weiss Ratings raised Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Needham & Company LLC boosted their target price on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Mizuho upped their target price on Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.50.

Harmony Biosciences Stock Performance

Shares of HRMY opened at $39.52 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.48 and a quick ratio of 3.45. Harmony Biosciences Holdings, Inc. has a one year low of $25.52 and a one year high of $40.87. The company has a 50-day simple moving average of $35.51 and a two-hundred day simple moving average of $32.63. The firm has a market capitalization of $2.30 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 0.37 and a beta of 0.96.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.32. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The firm had revenue of $261.28 million for the quarter, compared to the consensus estimate of $250.77 million. During the same quarter in the prior year, the business earned $0.92 EPS. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.65 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.