Paradiem LLC Sells 17,792 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Paradiem LLC reduced its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 68.0% in the first quarter, Holdings Channel reports. The institutional investor owned 8,384 shares of the company’s stock after selling 17,792 shares during the period. Paradiem LLC’s holdings in Harmony Biosciences were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after acquiring an additional 643 shares during the last quarter. Leonteq Securities AG purchased a new stake in shares of Harmony Biosciences in the 4th quarter worth $30,000. Allworth Financial LP raised its holdings in Harmony Biosciences by 286.7% in the 4th quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after purchasing an additional 602 shares during the period. Clearstead Advisors LLC raised its holdings in Harmony Biosciences by 145.9% in the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after purchasing an additional 699 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in Harmony Biosciences during the fourth quarter valued at $47,000. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Zacks Research raised Harmony Biosciences from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. HC Wainwright reaffirmed a “buy” rating on shares of Harmony Biosciences in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Harmony Biosciences from $30.00 to $36.00 and gave the company a “hold” rating in a research report on Tuesday, June 30th. Weiss Ratings upgraded Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Finally, Truist Financial increased their target price on shares of Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $42.50.

Harmony Biosciences Stock Performance

Shares of Harmony Biosciences stock opened at $36.84 on Monday. The company has a market capitalization of $2.13 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58. The company has a fifty day moving average of $33.19 and a 200 day moving average of $32.80. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The business had revenue of $215.39 million for the quarter, compared to the consensus estimate of $220.84 million. During the same period in the prior year, the business earned $0.78 earnings per share. Harmony Biosciences’s revenue was up 16.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.26 earnings per share for the current fiscal year.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.