Hedeker Wealth LLC Sells 5,598 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Hedeker Wealth LLC lowered its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 7.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,625 shares of the company’s stock after selling 5,598 shares during the period. Hedeker Wealth LLC owned 0.13% of Harmony Biosciences worth $2,191,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its holdings in Harmony Biosciences by 47.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after purchasing an additional 329 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Harmony Biosciences by 1.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,272 shares of the company’s stock valued at $1,184,000 after buying an additional 397 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in Harmony Biosciences by 1.8% during the first quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock valued at $964,000 after buying an additional 517 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Harmony Biosciences by 7.0% in the first quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock worth $352,000 after acquiring an additional 684 shares in the last quarter. Finally, TFO Wealth Partners LLC grew its stake in shares of Harmony Biosciences by 98,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock worth $32,000 after acquiring an additional 987 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

HRMY traded down $0.31 during mid-day trading on Friday, reaching $34.94. 268,167 shares of the company traded hands, compared to its average volume of 385,119. The stock has a market capitalization of $1.98 billion, a P/E ratio of 15.13, a P/E/G ratio of 0.81 and a beta of 0.72. Harmony Biosciences Holdings, Inc. has a 52-week low of $18.61 and a 52-week high of $39.26. The company has a quick ratio of 3.07, a current ratio of 3.11 and a debt-to-equity ratio of 0.34. The company’s fifty day moving average price is $32.14 and its 200-day moving average price is $31.50.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.24. The company had revenue of $172.80 million during the quarter, compared to analysts’ expectations of $172.53 million. Harmony Biosciences had a return on equity of 28.26% and a net margin of 22.30%. Harmony Biosciences’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 earnings per share. On average, sell-side analysts expect that Harmony Biosciences Holdings, Inc. will post 1.79 EPS for the current year.

Analysts Set New Price Targets

HRMY has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research note on Tuesday, August 6th. Citigroup initiated coverage on shares of Harmony Biosciences in a report on Friday, June 21st. They set a “buy” rating and a $48.00 price target on the stock. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.67.

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.