Wells Fargo & Company MN Reduces Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Wells Fargo & Company MN trimmed its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 84.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,005 shares of the company’s stock after selling 95,490 shares during the quarter. Wells Fargo & Company MN’s holdings in Harmony Biosciences were worth $620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Harmony Biosciences by 36.4% in the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock worth $162,883,000 after buying an additional 1,262,362 shares during the period. Pacer Advisors Inc. grew its holdings in Harmony Biosciences by 18.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock worth $78,452,000 after acquiring an additional 351,582 shares during the last quarter. American Century Companies Inc. increased its position in shares of Harmony Biosciences by 28.7% in the fourth quarter. American Century Companies Inc. now owns 1,102,604 shares of the company’s stock valued at $37,941,000 after acquiring an additional 246,140 shares during the period. Geode Capital Management LLC raised its stake in shares of Harmony Biosciences by 22.8% during the fourth quarter. Geode Capital Management LLC now owns 902,934 shares of the company’s stock valued at $31,077,000 after acquiring an additional 167,516 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Harmony Biosciences by 25.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 829,620 shares of the company’s stock valued at $28,547,000 after acquiring an additional 169,229 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HRMY has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Harmony Biosciences in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price objective for the company. Mizuho lifted their target price on shares of Harmony Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, March 18th. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Finally, UBS Group lowered their price objective on shares of Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating for the company in a report on Monday, April 28th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Harmony Biosciences presently has an average rating of “Buy” and a consensus target price of $52.44.

Harmony Biosciences Price Performance

Shares of HRMY opened at $30.32 on Friday. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $26.47 and a fifty-two week high of $41.61. The firm’s 50-day simple moving average is $31.41 and its two-hundred day simple moving average is $34.09. The stock has a market cap of $1.74 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $201.30 million for the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 EPS. Analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Harmony Biosciences Profile

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.