CX Institutional Purchases 129,916 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• CX Institutional increased its stake in Harmony Biosciences by 166.8%, owning approximately 0.36% of the company valued at $6,566,000, highlighting strong institutional interest in the stock.
• Harmony Biosciences reported $200.49 million in revenue for the quarter, missing analysts' expectations, while earnings per share were $0.68, below the consensus estimate of $0.78.
• The stock has a consensus rating of "Buy" from analysts, with a target price averaging $51.00, indicating positive outlook despite recent earnings miss.

CX Institutional boosted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 166.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 207,783 shares of the company's stock after acquiring an additional 129,916 shares during the period. CX Institutional owned 0.36% of Harmony Biosciences worth $6,566,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new stake in Harmony Biosciences in the first quarter worth about $29,000. Brooklyn Investment Group raised its position in shares of Harmony Biosciences by 1,031.9% in the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company's stock valued at $35,000 after purchasing an additional 970 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of Harmony Biosciences in the fourth quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Harmony Biosciences in the first quarter valued at approximately $57,000. Finally, CWM LLC raised its position in shares of 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 period. Institutional investors own 86.23% of the company's stock.

Harmony Biosciences Trading Down 0.3%

Shares of Harmony Biosciences stock traded down $0.09 during trading on Friday, reaching $32.54. The company's stock had a trading volume of 1,213,756 shares, compared to its average volume of 737,244. Harmony Biosciences Holdings, Inc. has a 52-week low of $26.47 and a 52-week high of $41.61. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 0.38 and a beta of 0.84. The firm's 50-day moving average is $35.53 and its two-hundred day moving average is $33.52. 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 (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.10). The firm had revenue of $200.49 million for the quarter, compared to analysts' expectations of $204.37 million. Harmony Biosciences had a net margin of 23.44% and a return on equity of 26.34%. The company's quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 EPS. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of Harmony Biosciences in a research report on Monday, July 21st. They issued a "buy" rating and a $48.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They issued a "neutral" rating and a $33.00 price target on the stock. Wall Street Zen raised shares of Harmony Biosciences from a "hold" rating to a "buy" rating in a report on Saturday. 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. Finally, Oppenheimer initiated coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They set an "outperform" rating and a $61.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price 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.