Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Sold by Federated Hermes Inc.

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. decreased its position 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 institutional investor owned 439,884 shares of the company's stock after selling 52,919 shares during the period. Federated Hermes Inc. owned about 0.77% of Harmony Biosciences worth $14,600,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Harmony Biosciences by 222.9% during the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock valued at $97,000 after purchasing an additional 2,022 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Harmony Biosciences by 52.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,221 shares of the company's stock valued at $671,000 after buying an additional 6,915 shares in the last quarter. Arizona State Retirement System lifted its stake in Harmony Biosciences by 6.4% in the 1st quarter. Arizona State Retirement System now owns 12,261 shares of the company's stock valued at $407,000 after buying an additional 737 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Harmony Biosciences by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock worth $162,883,000 after buying an additional 1,262,362 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in Harmony Biosciences by 21.8% during the 4th quarter. Two Sigma Advisers LP now owns 98,900 shares of the company's stock worth $3,403,000 after buying an additional 17,700 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

Wall Street Analysts Forecast Growth

HRMY has been the topic of several research reports. Cantor Fitzgerald upgraded Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. Needham & Company LLC reissued a "buy" rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, May 6th. Truist Financial initiated coverage on shares of Harmony Biosciences in a research note on Monday, July 21st. They set a "buy" rating and a $48.00 target price on the stock. Mizuho increased their target price on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Finally, The Goldman Sachs Group started coverage on shares of Harmony Biosciences in a research note on Thursday, July 10th. They issued a "neutral" rating and a $33.00 price target on the stock. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $51.00.

Harmony Biosciences Trading Down 2.2%

Shares of HRMY stock traded down $0.78 on Friday, hitting $34.40. 726,870 shares of the stock traded hands, compared to its average volume of 606,029. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.63 and a current ratio of 3.67. Harmony Biosciences Holdings, Inc. has a twelve month low of $26.47 and a twelve month high of $41.61. The firm's 50-day moving average price is $34.09 and its two-hundred day moving average price is $33.96. The stock has a market capitalization of $1.98 billion, a PE ratio of 13.13, a PEG ratio of 0.47 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.19. The company had revenue of $184.73 million for the quarter, compared to analyst estimates of $184.26 million. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. Harmony Biosciences's revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.67 EPS. As a group, analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

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.