Harmony Biosciences Holdings, Inc. $HRMY Shares Acquired by American Century Companies Inc.

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. lifted its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 16.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,288,787 shares of the company's stock after acquiring 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 SEC filing.

Several other large investors also recently made changes to their positions in the business. Fox Run Management L.L.C. acquired a new stake in shares of Harmony Biosciences in the first quarter worth $201,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Harmony Biosciences in the first quarter valued at $57,000. HighTower Advisors LLC boosted its stake in shares of Harmony Biosciences by 73.2% in the first quarter. HighTower Advisors LLC now owns 19,748 shares of the company's stock valued at $655,000 after purchasing an additional 8,347 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Harmony Biosciences by 27.1% in the first quarter. Public Sector Pension Investment Board now owns 121,154 shares of the company's stock valued at $4,021,000 after purchasing an additional 25,802 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Harmony Biosciences in the first quarter valued at $3,805,000. Institutional investors and hedge funds own 86.23% of the company's stock.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY traded down $0.37 on Monday, reaching $37.49. 193,434 shares of the company's stock were exchanged, compared to its average volume of 651,607. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 0.44 and a beta of 0.84. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $26.47 and a fifty-two week high of $41.61. The business's 50-day moving average is $34.47 and its two-hundred day moving average is $33.62. 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 issued its earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.10). The business had revenue of $200.49 million for the quarter, compared to analyst estimates of $204.37 million. Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The firm's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the company posted $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HRMY. UBS Group decreased their target price on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, April 28th. The Goldman Sachs Group began coverage on shares of Harmony Biosciences in a research note on Thursday, July 10th. They issued a "neutral" rating and a $33.00 target price for the company. Truist Financial assumed coverage on shares of Harmony Biosciences in a research note on Monday, July 21st. They issued a "buy" rating and a $48.00 target price for the company. Wall Street Zen downgraded shares of Harmony Biosciences from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Oppenheimer assumed coverage on shares of Harmony Biosciences in a research note on Monday, June 2nd. They set an "outperform" rating and a $61.00 price objective on the stock. One 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 company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus 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.