Hedeker Wealth LLC Reduces Position in Harmony Biosciences Holdings, Inc. $HRMY

Hedeker Wealth LLC trimmed its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 24.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 46,257 shares of the company’s stock after selling 14,608 shares during the quarter. Hedeker Wealth LLC’s holdings in Harmony Biosciences were worth $1,684,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HRMY. EverSource Wealth Advisors LLC boosted its position in Harmony Biosciences by 589.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after acquiring an additional 643 shares during the last quarter. Leonteq Securities AG acquired a new stake in Harmony Biosciences in the 4th quarter valued at about $30,000. Allworth Financial LP lifted its stake in Harmony Biosciences by 286.7% in the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after purchasing an additional 602 shares in the last quarter. Nykredit A S acquired a new position in shares of Harmony Biosciences during the 2nd quarter worth approximately $33,000. Finally, Clearstead Advisors LLC boosted its holdings in shares of Harmony Biosciences by 145.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after purchasing an additional 699 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Price Performance

NASDAQ:HRMY opened at $42.07 on Wednesday. Harmony Biosciences Holdings, Inc. has a 52 week low of $25.52 and a 52 week high of $43.49. The stock’s fifty day moving average is $37.85 and its two-hundred day moving average is $33.06. The company has a market capitalization of $2.45 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.39 and a beta of 0.93. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data 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. The firm had revenue of $261.28 million during the quarter, compared to analysts’ expectations of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the company posted $0.92 EPS. Equities analysts expect that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a report on Thursday, July 16th. Wolfe Research began coverage on Harmony Biosciences in a research note on Wednesday, August 26th. They set an “outperform” rating and a $60.00 price objective on the stock. UBS Group reaffirmed a “neutral” rating and issued a $37.00 target price on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Zacks Research cut shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Needham & Company LLC raised their price objective on shares of Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Harmony Biosciences currently has an average rating of “Hold” and a consensus target price of $47.11.

About Harmony Biosciences

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.