Bank of New York Mellon Corp Sells 3,401 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Bank of New York Mellon Corp decreased its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 262,238 shares of the company’s stock after selling 3,401 shares during the quarter. Bank of New York Mellon Corp owned about 0.46% of Harmony Biosciences worth $8,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of HRMY. Deep Track Capital LP purchased a new stake in Harmony Biosciences during the fourth quarter valued at about $49,894,000. Vanguard Group Inc. boosted its holdings in shares of Harmony Biosciences by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock worth $162,883,000 after purchasing an additional 1,262,362 shares during the period. Marshall Wace LLP boosted its holdings in shares of Harmony Biosciences by 165.2% during the fourth quarter. Marshall Wace LLP now owns 929,744 shares of the company’s stock worth $31,992,000 after purchasing an additional 579,103 shares during the period. Norges Bank purchased a new stake in shares of Harmony Biosciences during the fourth quarter worth about $16,118,000. Finally, Invesco Ltd. boosted its holdings in shares of Harmony Biosciences by 173.9% during the fourth quarter. Invesco Ltd. now owns 449,180 shares of the company’s stock worth $15,456,000 after purchasing an additional 285,156 shares during the period. Institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Oppenheimer assumed coverage on Harmony Biosciences in a research note on Monday, June 2nd. They set an “outperform” rating and a $61.00 price objective for the company. UBS Group lowered their price objective on Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Truist Financial began coverage on shares of Harmony Biosciences in a research report on Monday. They set a “buy” rating and a $48.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $49.00 price target on shares of Harmony Biosciences in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group began coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They set a “neutral” rating and a $33.00 price target for the company. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $51.00.

Harmony Biosciences Price Performance

NASDAQ:HRMY opened at $35.25 on Tuesday. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 0.48 and a beta of 0.83. The company has a current ratio of 3.67, a quick ratio of 3.63 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average is $33.83 and its two-hundred day moving average is $33.90. Harmony Biosciences Holdings, Inc. has a 12-month low of $26.47 and a 12-month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.19. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. The company had revenue of $184.73 million during the quarter, compared to the consensus estimate of $184.26 million. During the same quarter last year, the company earned $0.67 earnings per share. Harmony Biosciences’s revenue for the quarter was up 19.5% on a year-over-year basis. Research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current 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.