138,475 Shares in Harmony Biosciences Holdings, Inc. $HRMY Acquired by Acadian Asset Management LLC

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

A number of other institutional investors and hedge funds also recently modified their holdings of HRMY. New Vernon Capital Holdings II LLC raised its holdings in shares of Harmony Biosciences by 3,219.0% in the 1st quarter. New Vernon Capital Holdings II LLC now owns 488,424 shares of the company's stock valued at $16,211,000 after purchasing an additional 473,708 shares during the period. LSV Asset Management raised its holdings in shares of Harmony Biosciences by 25.0% in the 1st quarter. LSV Asset Management now owns 1,194,961 shares of the company's stock valued at $39,661,000 after purchasing an additional 238,744 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Harmony Biosciences by 1,709.0% in the 1st quarter. Allianz Asset Management GmbH now owns 220,704 shares of the company's stock valued at $7,325,000 after purchasing an additional 208,504 shares during the period. American Century Companies Inc. raised its holdings in shares of Harmony Biosciences by 16.9% in the 1st quarter. American Century Companies Inc. now owns 1,288,787 shares of the company's stock valued at $42,775,000 after purchasing an additional 186,183 shares during the period. Finally, Woodline Partners LP bought a new stake in shares of Harmony Biosciences in the 1st quarter valued at about $6,035,000. 86.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HRMY shares. Oppenheimer began coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They issued an "outperform" rating and a $61.00 target price on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $55.00 price target (up from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. Truist Financial began coverage on shares of Harmony Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $48.00 price target on the stock. Wall Street Zen cut shares of Harmony Biosciences from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, The Goldman Sachs Group began coverage on shares of Harmony Biosciences in a report on Thursday, July 10th. They issued a "neutral" rating and a $33.00 price target on the stock. One investment 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, the stock presently has an average rating of "Buy" and an average target price of $51.00.

Harmony Biosciences Stock Performance

Shares of HRMY traded down $0.09 during mid-day trading on Friday, hitting $32.54. 1,213,756 shares of the company's stock were exchanged, compared to its average volume of 701,135. Harmony Biosciences Holdings, Inc. has a 52 week low of $26.47 and a 52 week high of $41.61. The stock's 50-day simple moving average is $35.53 and its 200-day simple moving average is $33.53. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 0.38 and a beta of 0.84. The company has a quick ratio of 3.80, a current ratio of 3.84 and a debt-to-equity ratio of 0.20.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The business had revenue of $200.49 million for the quarter, compared to the consensus estimate of $204.37 million. During the same period in the prior 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. On average, equities research analysts expect 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.