Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 14.5% during the 1st quarter, Holdings Channel reports. The fund owned 14,914 shares of the company’s stock after selling 2,531 shares during the period. Janney Montgomery Scott LLC’s holdings in Harmony Biosciences were worth $495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of Harmony Biosciences by 13.8% during the fourth quarter. Bank of New York Mellon Corp now owns 265,639 shares of the company’s stock valued at $9,141,000 after purchasing an additional 32,272 shares during the period. Amalgamated Bank lifted its holdings in Harmony Biosciences by 23.0% in the fourth quarter. Amalgamated Bank now owns 11,079 shares of the company’s stock worth $381,000 after purchasing an additional 2,074 shares during the period. Proficio Capital Partners LLC bought a new position in Harmony Biosciences in the 4th quarter valued at about $367,000. Charles Schwab Investment Management Inc. increased its stake in Harmony Biosciences by 27.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 472,028 shares of the company’s stock valued at $16,242,000 after buying an additional 100,586 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Harmony Biosciences by 112.5% during the 4th quarter. Victory Capital Management Inc. now owns 146,609 shares of the company’s stock valued at $5,045,000 after buying an additional 77,611 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HRMY. Needham & Company LLC reaffirmed a “buy” rating and issued a $49.00 price target on shares of Harmony Biosciences in a research note on Tuesday, May 6th. Mizuho boosted their target price on Harmony Biosciences from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. UBS Group cut their target price on Harmony Biosciences from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, April 28th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Finally, Oppenheimer started coverage on Harmony Biosciences in a research report on Monday, June 2nd. They set an “outperform” rating and a $61.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $53.63.

Harmony Biosciences Stock Up 0.2%

HRMY stock opened at $32.11 on Thursday. The firm has a market cap of $1.84 billion, a PE ratio of 12.26, a P/E/G ratio of 0.47 and a beta of 0.83. Harmony Biosciences Holdings, Inc. has a 12 month low of $26.47 and a 12 month high of $41.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.67 and a quick ratio of 3.63. The firm has a 50 day simple moving average of $33.10 and a 200 day simple moving average of $33.91.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. The company had revenue of $184.73 million during the quarter, compared to the consensus estimate of $184.26 million. Harmony Biosciences had a return on equity of 24.32% and a net margin of 20.53%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 EPS. Equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

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.