Envestnet Asset Management Inc. Sells 15,944 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Envestnet Asset Management Inc. decreased its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 27.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,385 shares of the company’s stock after selling 15,944 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Harmony Biosciences worth $1,339,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Brooklyn Investment Group increased its position in Harmony Biosciences by 1,031.9% during the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock worth $35,000 after acquiring an additional 970 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Harmony Biosciences during the 1st quarter worth approximately $57,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Harmony Biosciences by 15.6% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,218 shares of the company’s stock worth $70,000 after purchasing an additional 299 shares in the last quarter. CWM LLC increased its holdings in shares of Harmony Biosciences by 34.8% during the first quarter. CWM LLC now owns 2,704 shares of the company’s stock worth $90,000 after purchasing an additional 698 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Harmony Biosciences by 76,666.7% in the first quarter. IFP Advisors Inc now owns 4,606 shares of the company’s stock valued at $153,000 after buying an additional 4,600 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HRMY shares. Deutsche Bank Aktiengesellschaft reduced their price target on Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Needham & Company LLC cut their target price on Harmony Biosciences from $48.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. HC Wainwright decreased their price target on Harmony Biosciences from $70.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Mizuho boosted their price target on Harmony Biosciences from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, UBS Group reduced their price objective on shares of Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.50.

Harmony Biosciences Price Performance

Shares of HRMY stock opened at $33.39 on Friday. The business has a fifty day simple moving average of $29.63 and a 200 day simple moving average of $32.94. The company has a market cap of $1.92 billion, a P/E ratio of 10.50, a P/E/G ratio of 0.43 and a beta of 0.85. The company has a quick ratio of 3.72, a current ratio of 3.75 and a debt-to-equity ratio of 0.18. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $40.93.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The business had revenue of $239.46 million during the quarter, compared to the consensus estimate of $222.68 million. Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. On average, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Harmony Biosciences Company 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.