Harmony Biosciences Holdings, Inc. $HRMY Shares Sold by EntryPoint Capital LLC

Key Points

• EntryPoint Capital LLC decreased its holdings in Harmony Biosciences by 60.2%, selling 19,314 shares, and currently owns 12,770 shares worth $424,000.
• Analyst ratings for Harmony Biosciences vary, with one strong buy, eight buys, and one hold, while the average price target is set at $51.00.
• In its latest earnings report, Harmony Biosciences missed consensus EPS estimates by earning $0.68 per share, with a revenue of $200.49 million, which was lower than the expected $204.37 million.

EntryPoint Capital LLC lowered its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 60.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 12,770 shares of the company's stock after selling 19,314 shares during the quarter. EntryPoint Capital LLC's holdings in Harmony Biosciences were worth $424,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Deep Track Capital LP purchased a new position in shares of Harmony Biosciences in the 4th quarter valued at about $49,894,000. American Century Companies Inc. increased its holdings in shares of Harmony Biosciences by 16.9% in the 1st quarter. American Century Companies Inc. now owns 1,288,787 shares of the company's stock valued at $42,775,000 after acquiring an additional 186,183 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Harmony Biosciences by 15.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company's stock valued at $41,739,000 after acquiring an additional 160,490 shares during the last quarter. LSV Asset Management increased its holdings in shares of Harmony Biosciences by 25.0% in the 1st quarter. LSV Asset Management now owns 1,194,961 shares of the company's stock valued at $39,661,000 after acquiring an additional 238,744 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Harmony Biosciences by 66.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 500,000 shares of the company's stock valued at $17,205,000 after acquiring an additional 200,000 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Price Performance

Shares of Harmony Biosciences stock traded down $0.11 during trading on Tuesday, reaching $37.32. The company's stock had a trading volume of 55,652 shares, compared to its average volume of 649,193. 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 12-month low of $26.47 and a 12-month high of $41.61. The company has a market capitalization of $2.15 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 0.44 and a beta of 0.84. The business has a 50 day moving average price of $34.56 and a 200-day moving average price of $33.62.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly 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). 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 during the quarter, compared to analysts' expectations of $204.37 million. During the same quarter last year, the firm earned $1.05 earnings per share. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. Harmony Biosciences has set its FY 2025 guidance at EPS. As a group, 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 research firms recently issued reports on HRMY. Truist Financial began coverage on Harmony Biosciences in a research note on Monday, July 21st. They set a "buy" rating and a $48.00 price target on the stock. The Goldman Sachs Group began coverage on Harmony Biosciences in a research note on Thursday, July 10th. They set a "neutral" rating and a $33.00 price target on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $55.00 price target (up previously from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th. UBS Group dropped their price target on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Finally, Oppenheimer assumed coverage on Harmony Biosciences in a research note on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price 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.