UBS Group AG Lowers Position in Harmony Biosciences Holdings, Inc. $HRMY

UBS Group AG lessened its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 40.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 297,228 shares of the company’s stock after selling 205,853 shares during the quarter. UBS Group AG owned approximately 0.52% of Harmony Biosciences worth $11,122,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Public Sector Pension Investment Board lifted its holdings in shares of Harmony Biosciences by 41.6% in the third quarter. Public Sector Pension Investment Board now owns 185,803 shares of the company’s stock worth $5,121,000 after buying an additional 54,605 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Harmony Biosciences by 39.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 234,779 shares of the company’s stock worth $6,471,000 after buying an additional 66,236 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Harmony Biosciences by 11.2% in the third quarter. American Century Companies Inc. now owns 1,669,565 shares of the company’s stock worth $46,013,000 after buying an additional 168,145 shares in the last quarter. Ruffer LLP purchased a new position in shares of Harmony Biosciences in the fourth quarter worth $1,536,000. Finally, LSV Asset Management lifted its holdings in shares of Harmony Biosciences by 7.1% in the third quarter. LSV Asset Management now owns 1,594,893 shares of the company’s stock worth $43,955,000 after buying an additional 106,391 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Trading Down 2.2%

Shares of HRMY opened at $30.09 on Friday. The company’s fifty day moving average is $29.24 and its 200 day moving average is $33.12. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $40.87. The stock has a market capitalization of $1.74 billion, a PE ratio of 12.13, a P/E/G ratio of 0.20 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The business had revenue of $215.39 million during the quarter, compared to the consensus estimate of $220.84 million. During the same quarter in the prior year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. Sell-side analysts expect that Harmony Biosciences Holdings, Inc. will post 3.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Zacks Research upgraded shares of Harmony Biosciences from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a research report on Wednesday, February 25th. Mizuho set a $50.00 price target on shares of Harmony Biosciences in a research report on Thursday, February 19th. Finally, Truist Financial boosted their price target on shares of Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.89.

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.