Hennion & Walsh Asset Management Inc. Sells 46,946 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Hennion & Walsh Asset Management Inc. cut its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 50.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,408 shares of the company’s stock after selling 46,946 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Harmony Biosciences were worth $1,653,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Ruffer LLP purchased a new stake in Harmony Biosciences in the fourth quarter worth about $1,536,000. CX Institutional lifted its holdings in shares of Harmony Biosciences by 19.7% during the fourth quarter. CX Institutional now owns 275,809 shares of the company’s stock valued at $10,321,000 after purchasing an additional 45,376 shares during the last quarter. Convergence Investment Partners LLC purchased a new position in shares of Harmony Biosciences during the fourth quarter valued at approximately $961,000. BNP Paribas Financial Markets lifted its holdings in shares of Harmony Biosciences by 32.9% during the fourth quarter. BNP Paribas Financial Markets now owns 525,145 shares of the company’s stock valued at $19,651,000 after purchasing an additional 130,001 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Harmony Biosciences in the 1st quarter worth approximately $1,030,000. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HRMY has been the subject of a number of analyst reports. Needham & Company LLC raised their price objective on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Zacks Research raised Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Mizuho increased their target price on Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Truist Financial raised their price target on Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $39.00 price target on shares of Harmony Biosciences in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.50.

Harmony Biosciences Trading Up 1.3%

NASDAQ:HRMY opened at $39.52 on Wednesday. The company’s 50 day moving average price is $35.51 and its 200-day moving average price is $32.63. Harmony Biosciences Holdings, Inc. has a 52 week low of $25.52 and a 52 week high of $40.87. 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 stock has a market cap of $2.30 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.37 and a beta of 0.96.

Harmony Biosciences (NASDAQ:HRMY) last announced 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. 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 analyst estimates of $250.77 million. During the same period in the previous year, the business earned $0.92 EPS. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.65 earnings per share for the current fiscal 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.