Federated Hermes Inc. Has $14.60 Million Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Key Points

• Federated Hermes Inc. has reduced its holdings in Harmony Biosciences by 10.7%, now owning approximately 0.77% of the company, valued at about $14.6 million.
• Recent quarterly earnings show that Harmony Biosciences reported $0.78 EPS, surpassing analyst expectations of $0.59, and a revenue of $184.73 million.
• Analysts have a generally positive outlook on Harmony Biosciences, with the stock receiving an average rating of "Buy" and a target price of approximately $51.00.

Federated Hermes Inc. lowered its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 10.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 439,884 shares of the company's stock after selling 52,919 shares during the quarter. Federated Hermes Inc. owned about 0.77% of Harmony Biosciences worth $14,600,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new position in Harmony Biosciences in the first quarter worth $29,000. GF Fund Management CO. LTD. acquired a new position in Harmony Biosciences in the fourth quarter worth $41,000. CWM LLC boosted its stake in Harmony Biosciences by 34.8% in the first quarter. CWM LLC now owns 2,704 shares of the company's stock worth $90,000 after purchasing an additional 698 shares in the last quarter. GAMMA Investing LLC boosted its stake in Harmony Biosciences by 222.9% in the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $97,000 after purchasing an additional 2,022 shares in the last quarter. Finally, Virtus Investment Advisers Inc. acquired a new position in Harmony Biosciences in the fourth quarter worth $124,000. Institutional investors and hedge funds own 86.23% of the company's stock.

Harmony Biosciences Trading Down 1.2%

Shares of Harmony Biosciences stock traded down $0.43 during trading hours on Wednesday, hitting $34.51. The company's stock had a trading volume of 297,264 shares, compared to its average volume of 667,894. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.67 and a quick ratio of 3.63. The company has a market capitalization of $1.98 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.48 and a beta of 0.84. The stock has a 50 day moving average of $34.14 and a 200 day moving average of $33.91. Harmony Biosciences Holdings, Inc. has a 12 month low of $26.47 and a 12 month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.19. The company had revenue of $184.73 million during the quarter, compared to analysts' expectations of $184.26 million. Harmony Biosciences had a return on equity of 24.32% and a net margin of 20.53%. Harmony Biosciences's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 earnings per share. Analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. HC Wainwright restated a "buy" rating and set a $70.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Oppenheimer assumed coverage on Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $49.00 target price on shares of Harmony Biosciences in a research report on Tuesday, May 6th. Truist Financial assumed coverage on Harmony Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $48.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $55.00 target price (up previously from $54.00) on shares of Harmony Biosciences in a research report on Thursday, July 10th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Harmony Biosciences has a consensus rating of "Buy" and an average 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.