Acadian Asset Management LLC Makes New $4.59 Million Investment in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Acadian Asset Management LLC has made a new investment of approximately $4.59 million in Harmony Biosciences Holdings, acquiring about 138,475 shares.
• Analysts have mixed ratings on Harmony Biosciences, with a consensus "Buy" rating and target prices ranging from $33.00 to $61.00.
• Harmony Biosciences reported earnings of $0.68 EPS for the latest quarter, missing the consensus estimate of $0.78, despite a 16.0% increase in revenue year-over-year.

Acadian Asset Management LLC bought a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 138,475 shares of the company's stock, valued at approximately $4,589,000. Acadian Asset Management LLC owned about 0.24% of Harmony Biosciences as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Aurora Investment Counsel lifted its holdings in shares of Harmony Biosciences by 0.6% in the 1st quarter. Aurora Investment Counsel now owns 61,667 shares of the company's stock worth $2,047,000 after purchasing an additional 374 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Harmony Biosciences by 0.4% in the 1st quarter. Rhumbline Advisers now owns 109,073 shares of the company's stock worth $3,620,000 after purchasing an additional 485 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Harmony Biosciences by 1.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,331 shares of the company's stock worth $2,145,000 after purchasing an additional 678 shares during the last quarter. CWM LLC lifted its holdings in shares of 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 purchasing an additional 698 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Harmony Biosciences by 6.4% in the 1st quarter. Arizona State Retirement System now owns 12,261 shares of the company's stock worth $407,000 after purchasing an additional 737 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial assumed coverage on Harmony Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $48.00 price target on the stock. The Goldman Sachs Group assumed coverage on Harmony Biosciences in a research report on Thursday, July 10th. They issued a "neutral" rating and a $33.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $55.00 target price (up from $54.00) on shares of Harmony Biosciences in a research report on Thursday, July 10th. Oppenheimer assumed coverage on Harmony Biosciences in a research report on Monday, June 2nd. They issued an "outperform" rating and a $61.00 target price on the stock. Finally, Wall Street Zen cut Harmony Biosciences from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Harmony Biosciences has a consensus rating of "Buy" and an average target price of $51.00.

Harmony Biosciences Stock Down 3.1%

Shares of HRMY stock opened at $32.39 on Monday. 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 $1.86 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 0.38 and a beta of 0.84. The business's fifty day moving average is $35.65 and its 200-day moving average is $33.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.80 and a current ratio of 3.84.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.10). Harmony Biosciences had a net margin of 23.44% and a return on equity of 26.34%. The firm had revenue of $200.49 million for the quarter, compared to analyst estimates of $204.37 million. During the same quarter last year, the business posted $1.05 earnings per share. The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. Harmony Biosciences has set its FY 2025 guidance at EPS. Equities analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal 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.

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