Massachusetts Financial Services Co. MA Sells 29,258 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Massachusetts Financial Services Co. MA decreased its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 541,281 shares of the company’s stock after selling 29,258 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.94% of Harmony Biosciences worth $20,255,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HRMY. Amundi grew its position in shares of Harmony Biosciences by 115.6% during the 1st quarter. Amundi now owns 39,668 shares of the company’s stock worth $1,229,000 after buying an additional 21,266 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Harmony Biosciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock worth $752,000 after buying an additional 984 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Harmony Biosciences during the 1st quarter worth $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Harmony Biosciences by 53.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company’s stock worth $3,166,000 after buying an additional 33,058 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Harmony Biosciences by 9.8% during the 2nd quarter. Cetera Investment Advisers now owns 8,404 shares of the company’s stock worth $266,000 after buying an additional 748 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Shares of HRMY stock opened at $29.22 on Thursday. Harmony Biosciences Holdings, Inc. has a 1-year low of $25.52 and a 1-year high of $40.87. The stock’s 50-day moving average is $29.95 and its 200 day moving average is $32.56. The company has a market cap of $1.69 billion, a P/E ratio of 10.78, a PEG ratio of 0.40 and a beta of 0.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.60 and a quick ratio of 3.58.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.46). Harmony Biosciences had a net margin of 18.29% and a return on equity of 19.86%. The company had revenue of $243.78 million for the quarter, compared to the consensus estimate of $240.04 million. During the same period in the previous year, the business earned $0.85 EPS. Harmony Biosciences’s revenue for the quarter was up 21.1% compared to the same quarter last year. Research analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HRMY. Zacks Research downgraded Harmony Biosciences from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 26th. Bank of America dropped their price target on Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 25th. Needham & Company LLC dropped their price target on Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Truist Financial downgraded Harmony Biosciences from a “buy” rating to a “hold” rating in a research report on Monday, February 23rd. Finally, UBS Group dropped their price target on Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Harmony Biosciences currently has a consensus rating of “Hold” and an average price target of $42.67.

Insiders Place Their Bets

In related news, CFO Sandip Kapadia sold 3,746 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $37.15, for a total transaction of $139,163.90. Following the sale, the chief financial officer owned 24,521 shares of the company’s stock, valued at $910,955.15. This trade represents a 13.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.60% of the stock is currently owned by insiders.

Harmony Biosciences Profile

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.