Algert Global LLC Decreases Stake in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Algert Global LLC has reduced its stake in Harmony Biosciences by 7.4%, selling 17,070 shares, which brings its total ownership to 213,838 shares worth approximately $7.1 million.
• A number of institutional investors, including Raymond James Financial Inc. and American Century Companies Inc., significantly increased their holdings during the same quarter, demonstrating strong interest in Harmony Biosciences' stock.
• Harmony Biosciences reported a quarterly earnings per share (EPS) of $0.68, missing estimates by $0.10, while revenue increased 16% year-over-year despite falling short of consensus expectations.

Algert Global LLC trimmed its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 7.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,838 shares of the company's stock after selling 17,070 shares during the quarter. Algert Global LLC owned 0.37% of Harmony Biosciences worth $7,097,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. purchased a new stake in Harmony Biosciences in the 1st quarter valued at $29,000. GF Fund Management CO. LTD. purchased a new stake in Harmony Biosciences in the 4th quarter valued at $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in Harmony Biosciences in the 1st quarter valued at $57,000. CWM LLC raised its position in Harmony Biosciences by 34.8% in the 1st quarter. CWM LLC now owns 2,704 shares of the company's stock valued at $90,000 after buying an additional 698 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Harmony Biosciences by 222.9% in the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock valued at $97,000 after buying an additional 2,022 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HRMY has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on Harmony Biosciences in a research report on Thursday, July 10th. They issued a "neutral" rating and a $33.00 price target for the company. Wall Street Zen lowered Harmony Biosciences from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Cantor Fitzgerald raised Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. UBS Group decreased their target price on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Finally, Truist Financial started coverage on Harmony Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $48.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $51.00.

Harmony Biosciences Stock Performance

HRMY traded up $0.57 during trading hours on Friday, hitting $37.86. The stock had a trading volume of 491,906 shares, compared to its average volume of 566,151. The company's fifty day simple moving average is $34.47 and its 200 day simple moving average is $33.69. 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 $2.18 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.44 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 quarterly earnings data on Tuesday, August 5th. The company reported $0.68 earnings per share 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 firm had revenue of $200.49 million during the quarter, compared to analysts' expectations of $204.37 million. During the same period last year, the business posted $1.05 EPS. The company's revenue was up 16.0% compared to the same quarter last year. Harmony Biosciences has set its FY 2025 guidance at EPS. Equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share 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.