Hedeker Wealth LLC Lowers Position in Harmony Biosciences Holdings, Inc. $HRMY

Hedeker Wealth LLC decreased its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 24.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,257 shares of the company’s stock after selling 14,608 shares during the quarter. Hedeker Wealth LLC owned 0.08% of Harmony Biosciences worth $1,684,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HRMY. BlackRock Inc. purchased a new stake in Harmony Biosciences during the second quarter worth $258,583,000. California State Teachers Retirement System increased its holdings in Harmony Biosciences by 3,455.0% in the second quarter. California State Teachers Retirement System now owns 2,059,313 shares of the company’s stock valued at $74,980,000 after buying an additional 2,001,385 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Harmony Biosciences by 109.9% in the first quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after acquiring an additional 1,056,507 shares during the period. Armistice Capital LLC acquired a new position in shares of Harmony Biosciences in the fourth quarter worth about $18,710,000. Finally, venBio Partners LLC purchased a new stake in shares of Harmony Biosciences during the 2nd quarter worth about $17,192,584. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Stock Down 0.4%

Shares of NASDAQ HRMY opened at $42.07 on Wednesday. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 0.39 and a beta of 0.93. The company’s 50-day simple moving average is $37.85 and its 200-day simple moving average is $33.06. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $43.49.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The firm had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. During the same period last year, the company posted $0.92 EPS. Harmony Biosciences’s quarterly revenue was up 30.3% compared to the same quarter last year. Equities analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HRMY shares. HC Wainwright restated a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a research note on Thursday, July 16th. Wolfe Research started coverage on Harmony Biosciences in a research report on Wednesday, August 26th. They set an “outperform” rating and a $60.00 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $39.00 price objective on shares of Harmony Biosciences in a report on Wednesday, August 5th. Needham & Company LLC boosted their price objective on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, UBS Group restated a “neutral” rating and issued a $37.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Harmony Biosciences has an average rating of “Hold” and an average target price of $47.11.

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.