Denali Advisors LLC Decreases Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Denali Advisors LLC cut its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 23.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,367 shares of the company's stock after selling 24,947 shares during the period. Denali Advisors LLC owned 0.14% of Harmony Biosciences worth $2,634,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HRMY. Charles Schwab Investment Management Inc. lifted its holdings in shares of Harmony Biosciences by 27.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 472,028 shares of the company's stock worth $16,242,000 after purchasing an additional 100,586 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Harmony Biosciences during the fourth quarter worth $367,000. Raymond James Financial Inc. acquired a new stake in shares of Harmony Biosciences during the fourth quarter worth $1,304,000. PNC Financial Services Group Inc. lifted its holdings in shares of Harmony Biosciences by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock worth $80,000 after purchasing an additional 519 shares during the period. Finally, Amundi lifted its holdings in shares of Harmony Biosciences by 243.3% during the fourth quarter. Amundi now owns 18,402 shares of the company's stock worth $635,000 after purchasing an additional 13,041 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Price Performance

HRMY stock traded down $1.23 during trading on Friday, hitting $35.20. The stock had a trading volume of 701,636 shares, compared to its average volume of 636,888. The company's 50 day moving average price is $33.84 and its two-hundred day moving average price is $33.91. Harmony Biosciences Holdings, Inc. has a 1-year low of $26.47 and a 1-year high of $41.61. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 0.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.63 and a current ratio of 3.67.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.19. The firm had revenue of $184.73 million during the quarter, compared to the consensus estimate of $184.26 million. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 EPS. On average, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on HRMY. UBS Group reduced their target price on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a report on Monday, April 28th. The Goldman Sachs Group raised Harmony Biosciences to a "hold" rating and set a $33.00 target price for the company in a report on Thursday, July 10th. Needham & Company LLC reissued a "buy" rating and issued a $49.00 target price on shares of Harmony Biosciences in a report on Tuesday, May 6th. HC Wainwright reissued a "buy" rating and issued a $70.00 target price on shares of Harmony Biosciences in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $55.00 target price (up previously from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Harmony Biosciences has a consensus rating of "Buy" and an average target price of $51.33.

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.