First Citizens Bank & Trust Co. Purchases 13,182 Shares of Harmony Biosciences Holdings, Inc. $HRMY

First Citizens Bank & Trust Co. lifted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 202.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,685 shares of the company's stock after buying an additional 13,182 shares during the period. First Citizens Bank & Trust Co.'s holdings in Harmony Biosciences were worth $622,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of HRMY. GAMMA Investing LLC increased its holdings in shares of 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 buying an additional 2,022 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Harmony Biosciences by 52.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,221 shares of the company's stock worth $671,000 after buying an additional 6,915 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Harmony Biosciences by 2.3% in the first quarter. Principal Financial Group Inc. now owns 213,416 shares of the company's stock worth $7,083,000 after buying an additional 4,753 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Harmony Biosciences by 8.4% in the first quarter. Envestnet Asset Management Inc. now owns 58,329 shares of the company's stock worth $1,936,000 after buying an additional 4,503 shares during the period. Finally, Moloney Securities Asset Management LLC purchased a new position in shares of Harmony Biosciences in the first quarter worth about $513,000. Hedge funds and other institutional investors own 86.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on HRMY. Mizuho lowered their price target on Harmony Biosciences from $50.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, September 25th. HC Wainwright dropped their price objective on Harmony Biosciences from $70.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, September 25th. Wall Street Zen cut Harmony Biosciences from a "buy" rating to a "hold" rating in a report on Sunday, October 19th. Truist Financial assumed coverage on Harmony Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $48.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Harmony Biosciences from $54.00 to $36.00 and set a "buy" rating for the company in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.56.

Harmony Biosciences Stock Up 2.2%

HRMY stock opened at $30.25 on Friday. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $41.61. The company has a quick ratio of 3.80, a current ratio of 3.84 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.74 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 0.37 and a beta of 0.79. The business has a 50 day moving average of $31.44 and a 200 day moving average of $32.60.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $200.49 million for the quarter, compared to the consensus estimate of $204.37 million. During the same period last year, the business earned $1.05 EPS. The firm's quarterly revenue was up 16.0% on a year-over-year basis. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal 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.

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