American Century Companies Inc. Grows Stake in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• American Century Companies Inc. increased its holdings in Harmony Biosciences by 16.9% during the 1st quarter, owning about 2.24% of the company, valued at $42.78 million.
• Harmony Biosciences reported a Q2 EPS of $0.68, missing analysts' estimates of $0.78, while revenue for the quarter was $200.49 million, below expectations of $204.37 million.
• As of now, Harmony Biosciences has an average target price of $51.00 from analysts, with ratings varying from "Strong Buy" to "Hold."

American Century Companies Inc. boosted its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,288,787 shares of the company's stock after purchasing an additional 186,183 shares during the period. American Century Companies Inc. owned approximately 2.24% of Harmony Biosciences worth $42,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Deep Track Capital LP bought a new stake in Harmony Biosciences in the fourth quarter worth about $49,894,000. Dimensional Fund Advisors LP lifted its stake in Harmony Biosciences by 15.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company's stock worth $41,739,000 after purchasing an additional 160,490 shares during the last quarter. LSV Asset Management lifted its stake in Harmony Biosciences by 25.0% in the first quarter. LSV Asset Management now owns 1,194,961 shares of the company's stock worth $39,661,000 after purchasing an additional 238,744 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in Harmony Biosciences by 66.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 500,000 shares of the company's stock worth $17,205,000 after purchasing an additional 200,000 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in Harmony Biosciences by 35.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 480,605 shares of the company's stock worth $16,538,000 after purchasing an additional 124,656 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Down 0.7%

HRMY stock traded down $0.25 during trading on Tuesday, hitting $37.17. 271,472 shares of the company's stock traded hands, compared to its average volume of 539,078. The firm has a market capitalization of $2.14 billion, a P/E ratio of 11.99, a PEG ratio of 0.44 and a beta of 0.84. The business has a fifty day simple moving average of $34.66 and a two-hundred day simple moving average of $33.64. 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 Holdings, Inc. has a 1 year low of $26.47 and a 1 year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $200.49 million for the quarter, compared to analysts' expectations of $204.37 million. During the same period in the previous year, the business earned $1.05 earnings per share. The business's quarterly revenue was up 16.0% compared to the same quarter last year. Harmony Biosciences has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set 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 shares of Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They set a "neutral" rating and a $33.00 target price on the stock. UBS Group reduced their target price on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, Mizuho raised their target price on shares of Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $51.00.

About Harmony Biosciences

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.