Harmony Biosciences Holdings, Inc. $HRMY Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its stake in Harmony Biosciences Holdings by 10.7%, selling 9,172 shares during the first quarter, leaving it with 76,777 shares valued at approximately $2.5 million.
• Harmony Biosciences announced a missed earnings per share estimate of $0.68 for the last quarter, against analysts' expectations of $0.78, while revenue increased by 16% year over year.
• Currently, the stock has a consensus rating of "Buy" with an average target price of $51.00, following recent upgrades from firms like Cantor Fitzgerald and Mizuho.

Deutsche Bank AG lowered its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 10.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,777 shares of the company's stock after selling 9,172 shares during the period. Deutsche Bank AG owned about 0.13% of Harmony Biosciences worth $2,548,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new position in Harmony Biosciences in the first quarter valued at about $29,000. GF Fund Management CO. LTD. purchased a new position in Harmony Biosciences in the fourth quarter valued at about $41,000. CWM LLC boosted its holdings in Harmony Biosciences by 34.8% in the first quarter. CWM LLC now owns 2,704 shares of the company's stock valued at $90,000 after purchasing an additional 698 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Harmony Biosciences by 222.9% during the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $97,000 after buying an additional 2,022 shares during the last quarter. Finally, Virtus Investment Advisers Inc. bought a new position in Harmony Biosciences during the 4th quarter worth approximately $124,000. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

HRMY has been the topic of a number of research analyst reports. Truist Financial initiated coverage on Harmony Biosciences in a report on Monday, July 21st. They set a "buy" rating and a $48.00 target price on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $55.00 target price (up previously from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. The Goldman Sachs Group initiated coverage on Harmony Biosciences in a report on Thursday, July 10th. They set a "neutral" rating and a $33.00 target price on the stock. Cantor Fitzgerald raised Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Oppenheimer initiated coverage on Harmony Biosciences in a report on Monday, June 2nd. They set an "outperform" rating and a $61.00 target price 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $51.00.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY traded down $0.44 during mid-day trading on Monday, hitting $37.42. The company had a trading volume of 399,984 shares, compared to its average volume of 552,967. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.44 and a beta of 0.84. Harmony Biosciences Holdings, Inc. has a 12 month low of $26.47 and a 12 month high of $41.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.84 and a quick ratio of 3.80. The firm's 50 day simple moving average is $34.56 and its two-hundred day simple moving average is $33.62.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced 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 the consensus estimate of $204.37 million. Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The company's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the business posted $1.05 EPS. 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 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.