Hancock Whitney Corp Trims Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Hancock Whitney Corp lessened its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 13.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,118 shares of the company’s stock after selling 1,429 shares during the period. Hancock Whitney Corp’s holdings in Harmony Biosciences were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. TFO Wealth Partners LLC boosted its holdings in Harmony Biosciences by 98,700.0% during the fourth quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock worth $32,000 after buying an additional 987 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of Harmony Biosciences by 47.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $33,000 after acquiring an additional 329 shares during the period. nVerses Capital LLC purchased a new position in shares of Harmony Biosciences in the 2nd quarter valued at about $36,000. Headlands Technologies LLC increased its stake in shares of Harmony Biosciences by 1,608.1% in the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after purchasing an additional 2,396 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Harmony Biosciences in the 2nd quarter worth about $138,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $38.25 on Tuesday. The company has a fifty day simple moving average of $35.30 and a 200-day simple moving average of $32.32. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.75 and a beta of 0.73. The company has a quick ratio of 3.09, a current ratio of 3.13 and a debt-to-equity ratio of 0.32. Harmony Biosciences Holdings, Inc. has a 52-week low of $18.61 and a 52-week high of $39.73.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.24. The company had revenue of $172.80 million during the quarter, compared to analysts’ expectations of $172.53 million. Harmony Biosciences had a net margin of 17.53% and a return on equity of 22.97%. Harmony Biosciences’s revenue was up 28.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 EPS. On average, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group started coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price objective for the company. Citigroup initiated coverage on shares of Harmony Biosciences in a research note on Friday, June 21st. They issued a “buy” rating and a $48.00 price target on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.33.

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.