AlphaQuest LLC Sells 9,100 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• AlphaQuest LLC significantly reduced its stake in Harmony Biosciences by 69.5%, now holding 3,998 shares valued at $133,000.
• Several institutional investors have recently altered their positions in Harmony Biosciences, with the firm having a total institutional ownership of 86.23%.
• Analysis of Harmony Biosciences shows mixed ratings, with one analyst giving a "Strong Buy", while others have varied between "Buy" and "Hold" ratings, reflecting an average target price of $51.00.

AlphaQuest LLC reduced its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 69.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,998 shares of the company's stock after selling 9,100 shares during the quarter. AlphaQuest LLC's holdings in Harmony Biosciences were worth $133,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Martingale Asset Management L P grew its stake in shares of Harmony Biosciences by 21.6% during the 1st quarter. Martingale Asset Management L P now owns 45,712 shares of the company's stock worth $1,517,000 after acquiring an additional 8,113 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Harmony Biosciences by 6.9% during the 1st quarter. Hsbc Holdings PLC now owns 21,803 shares of the company's stock worth $714,000 after acquiring an additional 1,402 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Harmony Biosciences by 379.5% during the 1st quarter. Quantbot Technologies LP now owns 28,413 shares of the company's stock worth $943,000 after acquiring an additional 22,487 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Harmony Biosciences in the 1st quarter valued at approximately $543,000. Finally, Brooklyn Investment Group boosted its holdings 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 valued at $35,000 after buying an additional 970 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Harmony Biosciences Stock Performance

Shares of HRMY traded down $0.31 during midday trading on Friday, reaching $35.99. 742,372 shares of the stock were exchanged, compared to its average volume of 494,329. Harmony Biosciences Holdings, Inc. has a twelve month low of $26.47 and a twelve month 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 company has a market cap of $2.07 billion, a P/E ratio of 11.61, a PEG ratio of 0.42 and a beta of 0.84. The stock's 50 day simple moving average is $35.47 and its 200 day simple moving average is $33.58.

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

Wall Street Analysts Forecast Growth

HRMY has been the subject of several recent analyst reports. Mizuho increased their price objective on Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Cantor Fitzgerald raised Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. Wall Street Zen downgraded Harmony Biosciences from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Oppenheimer started coverage on Harmony Biosciences in a report on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target for the company. Finally, The Goldman Sachs Group started coverage on Harmony Biosciences in a report on Thursday, July 10th. They set a "neutral" rating and a $33.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given 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 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.