UBS Group AG decreased its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY – Free Report) by 40.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 297,228 shares of the company’s stock after selling 205,853 shares during the period. UBS Group AG’s holdings in Harmony Biosciences were worth $11,122,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Public Sector Pension Investment Board increased its position in Harmony Biosciences by 41.6% during the third quarter. Public Sector Pension Investment Board now owns 185,803 shares of the company’s stock valued at $5,121,000 after acquiring an additional 54,605 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Harmony Biosciences by 39.3% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 234,779 shares of the company’s stock valued at $6,471,000 after acquiring an additional 66,236 shares during the last quarter. American Century Companies Inc. increased its position in Harmony Biosciences by 11.2% during the third quarter. American Century Companies Inc. now owns 1,669,565 shares of the company’s stock valued at $46,013,000 after acquiring an additional 168,145 shares during the last quarter. Ruffer LLP bought a new position in Harmony Biosciences during the fourth quarter valued at $1,536,000. Finally, LSV Asset Management increased its position in Harmony Biosciences by 7.1% during the third quarter. LSV Asset Management now owns 1,594,893 shares of the company’s stock valued at $43,955,000 after acquiring an additional 106,391 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.
Analyst Upgrades and Downgrades
HRMY has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a report on Wednesday, February 25th. UBS Group cut their price target on shares of Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Zacks Research upgraded shares of Harmony Biosciences from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Finally, Mizuho set a $50.00 price target on shares of Harmony Biosciences in a report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Harmony Biosciences has an average rating of “Hold” and an average target price of $40.89.
Harmony Biosciences Trading Down 2.2%
NASDAQ HRMY opened at $30.09 on Friday. The company’s 50-day moving average price is $29.24 and its 200-day moving average price is $33.12. The company has a current ratio of 3.58, a quick ratio of 3.56 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.74 billion, a PE ratio of 12.13, a PEG ratio of 0.20 and a beta of 0.97. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.52 and a 12 month high of $40.87.
Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The company had revenue of $215.39 million during the quarter, compared to the consensus estimate of $220.84 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. Equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.34 earnings per share for the current year.
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.
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