Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 753,547 shares of the company's stock after selling 76,073 shares during the period. Massachusetts Financial Services Co. MA owned about 1.31% of Harmony Biosciences worth $25,010,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in Harmony Biosciences in the first quarter worth about $29,000. GF Fund Management CO. LTD. bought a new stake in shares of Harmony Biosciences during the 4th quarter valued at $41,000. PNC Financial Services Group Inc. grew its position in shares of Harmony Biosciences by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock valued at $80,000 after acquiring an additional 519 shares during the period. CWM LLC boosted its holdings in Harmony Biosciences by 34.8% in the 1st quarter. CWM LLC now owns 2,704 shares of the company's stock worth $90,000 after buying an additional 698 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Harmony Biosciences by 222.9% in the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $97,000 after buying an additional 2,022 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on HRMY. HC Wainwright reissued a "buy" rating and set a $70.00 price objective on shares of Harmony Biosciences in a report on Tuesday, April 8th. UBS Group dropped their price objective on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a report on Monday, April 28th. Oppenheimer started coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They issued an "outperform" rating and a $61.00 price target for the company. Cantor Fitzgerald raised shares of Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group raised shares of Harmony Biosciences to a "hold" rating and set a $33.00 price target for the company in a report on Thursday, July 10th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $51.33.

Harmony Biosciences Trading Down 3.4%

Shares of NASDAQ:HRMY traded down $1.23 during trading on Friday, reaching $35.20. 701,636 shares of the company were exchanged, compared to its average volume of 636,888. The firm has a market capitalization of $2.02 billion, a PE ratio of 13.44, a P/E/G ratio of 0.48 and a beta of 0.83. The business's fifty day simple moving average is $33.84 and its 200-day simple moving average is $33.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.67 and a quick ratio of 3.63. Harmony Biosciences Holdings, Inc. has a 12-month low of $26.47 and a 12-month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.19. The company had revenue of $184.73 million for the quarter, compared to analyst estimates of $184.26 million. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. Harmony Biosciences's revenue was up 19.5% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. On average, research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS 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.