UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $3.06 Million Stock Position in Harmony Biosciences Holdings, Inc. $HRMY

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 40.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 84,130 shares of the company’s stock after selling 57,410 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Harmony Biosciences were worth $3,063,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Harmony Biosciences news, insider Kumar Budur sold 28,454 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $42.96, for a total transaction of $1,222,383.84. Following the completion of the sale, the insider owned 13,115 shares of the company’s stock, valued at $563,420.40. This trade represents a 68.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 11.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wolfe Research initiated coverage on shares of Harmony Biosciences in a research report on Wednesday, August 26th. They set an “outperform” rating and a $60.00 price target on the stock. Weiss Ratings upgraded Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Wall Street Zen raised Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Mizuho upped their target price on Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Needham & Company LLC increased their price target on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $47.11.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $41.10 on Friday. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $38.04 and its two-hundred day moving average price is $33.19. The company has a market cap of $2.39 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 0.39 and a beta of 0.93. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $43.49.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating 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 company had revenue of $261.28 million during the quarter, compared to analysts’ expectations of $250.77 million. During the same period last year, the firm posted $0.92 earnings per share. The business’s revenue was up 30.3% on a year-over-year basis. On average, analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current year.

Harmony Biosciences Company 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.