Adage Capital Partners GP L.L.C. Has $5.58 Million Holdings in Harmony Biosciences Holdings, Inc. $HRMY

Adage Capital Partners GP L.L.C. decreased its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 66.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 168,000 shares of the company's stock after selling 332,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.29% of Harmony Biosciences worth $5,576,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in shares of Harmony Biosciences during the first quarter valued at approximately $29,000. Brooklyn Investment Group raised its position in shares of Harmony Biosciences by 1,031.9% in the 1st quarter. Brooklyn Investment Group now owns 1,064 shares of the company's stock worth $35,000 after purchasing an additional 970 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Harmony Biosciences in the 4th quarter worth about $41,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Harmony Biosciences in the 1st quarter worth about $57,000. Finally, CWM LLC grew its position 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 purchasing an additional 698 shares during the period. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Trading Down 2.6%

Shares of HRMY stock traded down $0.87 during trading hours on Friday, hitting $32.55. 261,941 shares of the company were exchanged, compared to its average volume of 659,078. The firm has a fifty day moving average of $35.64 and a 200 day moving average of $33.58. Harmony Biosciences Holdings, Inc. has a 1 year low of $26.47 and a 1 year high of $41.61. The company has a quick ratio of 3.80, a current ratio of 3.84 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.87 billion, a PE ratio of 10.50, a PEG ratio of 0.39 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted 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). The company had revenue of $200.49 million during the quarter, compared to analyst estimates of $204.37 million. Harmony Biosciences had a net margin of 23.44% and a return on equity of 26.34%. The company's revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. Analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Analyst Ratings Changes

HRMY has been the subject of a number of recent research reports. Oppenheimer began coverage on Harmony Biosciences in a research note on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target for the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $55.00 target price (up previously from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th. The Goldman Sachs Group assumed coverage on Harmony Biosciences in a research note on Thursday, July 10th. They set a "neutral" rating and a $33.00 price target on the stock. Wall Street Zen lowered Harmony Biosciences from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Truist Financial assumed coverage on Harmony Biosciences in a research note on Monday, July 21st. They set a "buy" rating and a $48.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $51.00.

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.