Hennion & Walsh Asset Management Inc. Acquires 9,329 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Hennion & Walsh Asset Management Inc. grew its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 20.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 54,274 shares of the company’s stock after purchasing an additional 9,329 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Harmony Biosciences were worth $2,171,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Hedeker Wealth LLC acquired a new position in Harmony Biosciences during the first quarter worth about $2,627,000. LSV Asset Management lifted its stake in Harmony Biosciences by 346.5% in the 1st quarter. LSV Asset Management now owns 335,146 shares of the company’s stock valued at $11,254,000 after purchasing an additional 260,093 shares during the last quarter. Marshall Wace LLP boosted its position in Harmony Biosciences by 145.4% in the second quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock valued at $9,220,000 after buying an additional 181,092 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Harmony Biosciences by 42.1% during the second quarter. Rice Hall James & Associates LLC now owns 80,512 shares of the company’s stock worth $2,429,000 after buying an additional 23,867 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Harmony Biosciences by 54.1% during the second quarter. Victory Capital Management Inc. now owns 84,964 shares of the company’s stock worth $2,563,000 after buying an additional 29,816 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HRMY shares. Raymond James reissued an “outperform” rating and set a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. UBS Group started coverage on Harmony Biosciences in a report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target on the stock. Mizuho lifted their target price on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Harmony Biosciences has a consensus rating of “Moderate Buy” and an average price target of $44.38.

Harmony Biosciences Trading Up 1.3 %

NASDAQ:HRMY opened at $34.50 on Friday. Harmony Biosciences Holdings, Inc. has a 52 week low of $19.03 and a 52 week high of $40.60. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.09 and a current ratio of 3.13. The firm’s fifty day moving average is $36.40 and its 200-day moving average is $32.95. The firm has a market cap of $1.96 billion, a P/E ratio of 17.69, a P/E/G ratio of 0.69 and a beta of 0.73.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.24. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. The business had revenue of $172.80 million for the quarter, compared to analysts’ expectations of $172.53 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. Equities analysts expect that Harmony Biosciences Holdings, Inc. will post 2.23 earnings per share for the current year.

Harmony Biosciences 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.