First Trust Advisors LP Sells 50,805 Shares of Harmony Biosciences Holdings, Inc. $HRMY

First Trust Advisors LP cut its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 32.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,549 shares of the company’s stock after selling 50,805 shares during the period. First Trust Advisors LP’s holdings in Harmony Biosciences were worth $2,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Harmony Biosciences by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company’s stock valued at $58,157,000 after buying an additional 245,784 shares in the last quarter. SG Americas Securities LLC increased its stake in Harmony Biosciences by 109.9% in the 1st quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after buying an additional 1,056,507 shares in the last quarter. State Street Corp raised its holdings in Harmony Biosciences by 0.5% during the fourth quarter. State Street Corp now owns 1,661,850 shares of the company’s stock valued at $62,186,000 after acquiring an additional 8,246 shares during the period. LSV Asset Management raised its holdings in Harmony Biosciences by 3.9% during the fourth quarter. LSV Asset Management now owns 1,657,093 shares of the company’s stock valued at $62,008,000 after acquiring an additional 62,200 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Harmony Biosciences by 15.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,491,605 shares of the company’s stock valued at $55,816,000 after acquiring an additional 196,224 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on HRMY shares. Mizuho upped their price objective on Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. UBS Group reissued a “neutral” rating and issued a $37.00 price target on shares of Harmony Biosciences in a report on Wednesday. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $39.00 price objective on shares of Harmony Biosciences in a research report on Wednesday. Finally, Needham & Company LLC upped their target price on shares of Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.50.

Harmony Biosciences Stock Up 1.3%

Shares of NASDAQ HRMY opened at $38.75 on Friday. The company has a current ratio of 3.48, a quick ratio of 3.56 and a debt-to-equity ratio of 0.13. Harmony Biosciences Holdings, Inc. has a 12-month low of $25.52 and a 12-month high of $40.87. The firm’s 50-day moving average price is $35.06 and its 200-day moving average price is $32.57. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.35 and a beta of 0.96.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.32. The company had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 earnings per share. On average, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.33 EPS 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.