Harmony Biosciences Holdings, Inc. $HRMY Shares Acquired by Foster & Motley Inc.

Key Points

• Foster & Motley Inc. increased its stake in Harmony Biosciences by 139.5% in the second quarter, owning 25,290 shares worth approximately $799,000.
• Equities research analysts have varying opinions on Harmony Biosciences, with a consensus rating of "Moderate Buy" and an average target price of $45.56.
• Harmony Biosciences reported earnings of $0.68 per share for the latest quarter, missing analysts' expectations and showing a 16.0% increase in quarterly revenue compared to the same period last year.

Foster & Motley Inc. increased its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 139.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,290 shares of the company's stock after purchasing an additional 14,731 shares during the quarter. Foster & Motley Inc.'s holdings in Harmony Biosciences were worth $799,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Harmony Biosciences by 222.9% during 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 during the period. Strs Ohio acquired a new stake in shares of Harmony Biosciences during the first quarter worth $587,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Harmony Biosciences during the second quarter worth $1,478,000. CX Institutional lifted its holdings in Harmony Biosciences by 166.8% in the second quarter. CX Institutional now owns 207,783 shares of the company's stock valued at $6,566,000 after acquiring an additional 129,916 shares during the period. Finally, Woodline Partners LP acquired a new stake in Harmony Biosciences in the first quarter valued at $6,035,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on HRMY shares. The Goldman Sachs Group started coverage on Harmony Biosciences in a report on Thursday, July 10th. They issued a "neutral" rating and a $33.00 target price for the company. Wall Street Zen downgraded Harmony Biosciences from a "buy" rating to a "hold" rating in a report on Sunday. Weiss Ratings reissued a "hold (c-)" rating on shares of Harmony Biosciences in a report on Tuesday, October 14th. Truist Financial started coverage on Harmony Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $48.00 target price for the company. Finally, Needham & Company LLC reduced their target price on Harmony Biosciences from $48.00 to $41.00 and set a "buy" rating for the company in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $45.56.

Harmony Biosciences Trading Down 0.2%

Shares of HRMY stock opened at $25.90 on Monday. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.58 and a fifty-two week high of $41.61. The stock has a market cap of $1.49 billion, a P/E ratio of 8.35, a P/E/G ratio of 0.32 and a beta of 0.79. The business has a fifty day simple moving average of $32.29 and a 200-day simple moving average of $32.66. 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 analysts' consensus estimates of $0.78 by ($0.10). The firm had revenue of $200.49 million during 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal 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.

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