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 cut its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 40.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 owned 0.14% of Harmony Biosciences worth $3,063,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in shares of Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after buying an additional 643 shares during the period. Leonteq Securities AG bought a new stake in shares of Harmony Biosciences during the fourth quarter worth approximately $30,000. Allworth Financial LP lifted 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 buying an additional 602 shares during the period. Clearstead Advisors LLC lifted its holdings in 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 during the period. Finally, Kestra Advisory Services LLC bought a new position in Harmony Biosciences in the fourth quarter valued at approximately $47,000. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

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

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The company had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The firm’s revenue was up 30.3% compared to the same quarter last year. On average, analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on HRMY. Mizuho lifted their target price on shares of Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Wolfe Research began coverage on Harmony Biosciences in a research note on Wednesday, August 26th. They issued an “outperform” rating and a $60.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $39.00 price target on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Needham & Company LLC lifted their price objective on Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 price objective on shares of Harmony Biosciences in a report on Thursday, July 16th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Harmony Biosciences has a consensus rating of “Hold” and a consensus target price of $47.11.

Insiders Place Their Bets

In other Harmony Biosciences news, insider Kumar Budur sold 28,454 shares of the stock in a transaction dated 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 transaction, the insider owned 13,115 shares in the company, valued at approximately $563,420.40. This represents a 68.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.00% of the company’s stock.

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.