Pictet Asset Management Holding SA Sells 44,286 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Pictet Asset Management Holding SA decreased its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 21.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 163,107 shares of the company’s stock after selling 44,286 shares during the period. Pictet Asset Management Holding SA owned 0.28% of Harmony Biosciences worth $4,397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Amundi increased its position in shares of Harmony Biosciences by 115.6% during the first quarter. Amundi now owns 39,668 shares of the company’s stock worth $1,229,000 after purchasing an additional 21,266 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Harmony Biosciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock worth $752,000 after buying an additional 984 shares during the last quarter. Empowered Funds LLC purchased a new position in Harmony Biosciences during the 1st quarter worth $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Harmony Biosciences by 53.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company’s stock valued at $3,166,000 after buying an additional 33,058 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in Harmony Biosciences by 9.8% during the 2nd quarter. Cetera Investment Advisers now owns 8,404 shares of the company’s stock valued at $266,000 after buying an additional 748 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HRMY shares. Weiss Ratings raised Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Zacks Research upgraded shares of Harmony Biosciences from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Truist Financial increased their price objective on shares of Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, May 8th. HC Wainwright reiterated a “buy” rating on shares of Harmony Biosciences in a research note on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.44.

Harmony Biosciences Price Performance

Shares of HRMY opened at $37.26 on Friday. The stock’s 50-day moving average price is $32.54 and its 200-day moving average price is $32.87. The company has a quick ratio of 3.56, a current ratio of 3.58 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.35 and a beta of 0.94. Harmony Biosciences Holdings, Inc. has a 52 week low of $25.52 and a 52 week high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.21). The company had revenue of $215.39 million during the quarter, compared to analysts’ expectations of $220.84 million. Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 EPS. On average, sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 3.26 EPS for the current year.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.