Summit Global Investments Has $655,000 Stock Position in Harmony Biosciences Holdings, Inc. $HRMY

Summit Global Investments cut its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 28.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 20,741 shares of the company’s stock after selling 8,441 shares during the period. Summit Global Investments’ holdings in Harmony Biosciences were worth $655,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in HRMY. Envestnet Asset Management Inc. boosted its stake in Harmony Biosciences by 8.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 58,329 shares of the company’s stock valued at $1,936,000 after purchasing an additional 4,503 shares during the last quarter. CWM LLC lifted its holdings in shares of Harmony Biosciences by 34.8% in the first quarter. CWM LLC now owns 2,704 shares of the company’s stock valued at $90,000 after purchasing an additional 698 shares in the last quarter. IFP Advisors Inc lifted its holdings 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 purchasing an additional 4,600 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Harmony Biosciences by 10.9% during the first quarter. Cetera Investment Advisers now owns 7,656 shares of the company’s stock valued at $254,000 after buying an additional 754 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Harmony Biosciences during the first quarter worth $544,000. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Up 0.2%

Harmony Biosciences stock opened at $35.34 on Wednesday. The firm has a 50 day moving average price of $29.79 and a 200-day moving average price of $32.99. 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. The company has a market capitalization of $2.04 billion, a P/E ratio of 11.11, a P/E/G ratio of 0.46 and a beta of 0.85.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. The firm had revenue of $239.46 million during the quarter, compared to analysts’ expectations of $222.68 million. As a group, equities analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a research note on Thursday, September 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Harmony Biosciences in a research report on Monday. Wall Street Zen cut shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Oppenheimer reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of Harmony Biosciences in a research report on Monday. Finally, HC Wainwright reissued a “buy” rating and set a $55.00 target price on shares of Harmony Biosciences in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Harmony Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $44.75.

About Harmony Biosciences

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.