Zurcher Kantonalbank Zurich Cantonalbank Cuts Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 29.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,149 shares of the company’s stock after selling 2,161 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Harmony Biosciences were worth $155,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of HRMY. TFO Wealth Partners LLC boosted its holdings in shares of Harmony Biosciences by 98,700.0% in the 4th quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock valued at $32,000 after purchasing an additional 987 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Harmony Biosciences by 47.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock worth $33,000 after buying an additional 329 shares during the period. SG Americas Securities LLC acquired a new position in Harmony Biosciences in the second quarter valued at $138,000. Lazard Asset Management LLC grew its position in Harmony Biosciences by 98.3% during the first quarter. Lazard Asset Management LLC now owns 4,542 shares of the company’s stock valued at $152,000 after acquiring an additional 2,251 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in Harmony Biosciences during the fourth quarter valued at about $238,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY opened at $36.89 on Tuesday. The company has a market cap of $2.10 billion, a P/E ratio of 15.97, a PEG ratio of 0.71 and a beta of 0.73. Harmony Biosciences Holdings, Inc. has a one year low of $18.61 and a one year high of $39.26. The business’s 50-day simple moving average is $34.00 and its 200 day simple moving average is $31.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.24. The company had revenue of $172.80 million for the quarter, compared to analyst estimates of $172.53 million. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The business’s quarterly revenue was up 28.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share. On average, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

HRMY has been the topic of a number of research reports. Citigroup initiated coverage on Harmony Biosciences in a report on Friday, June 21st. They issued a “buy” rating and a $48.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.

Harmony Biosciences Company Profile

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.