Harmony Biosciences Holdings, Inc. $HRMY Shares Bought by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC has increased its stake in Harmony Biosciences Holdings, Inc. by 73.2%, now holding 19,748 shares valued at $655,000.
• Harmony Biosciences' recent earnings report revealed a net margin of 23.44%, but the company reported lower than expected earnings per share at $0.68, missing estimates by 10 cents.
• Harmony Biosciences stock has seen a 2.8% decrease, currently trading around $36.89, with analysts issuing various ratings and target prices, reflecting a consensus target of $51.00.

HighTower Advisors LLC increased its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 73.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,748 shares of the company's stock after buying an additional 8,347 shares during the period. HighTower Advisors LLC's holdings in Harmony Biosciences were worth $655,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of HRMY. Public Sector Pension Investment Board boosted its holdings in Harmony Biosciences by 27.1% in the first quarter. Public Sector Pension Investment Board now owns 121,154 shares of the company's stock valued at $4,021,000 after purchasing an additional 25,802 shares during the period. Nuveen LLC purchased a new stake in shares of Harmony Biosciences during the first quarter worth approximately $3,805,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Harmony Biosciences during the first quarter worth approximately $3,791,000. Citigroup Inc. lifted its stake in Harmony Biosciences by 2.8% in the first quarter. Citigroup Inc. now owns 205,340 shares of the company's stock worth $6,815,000 after acquiring an additional 5,539 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Harmony Biosciences by 6.0% during the 1st quarter. Swiss National Bank now owns 82,900 shares of the company's stock worth $2,751,000 after acquiring an additional 4,700 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Performance

Shares of Harmony Biosciences stock traded down $1.23 during trading on Thursday, reaching $36.30. The company's stock had a trading volume of 837,149 shares, compared to its average volume of 472,514. The firm has a market cap of $2.09 billion, a PE ratio of 11.71, a P/E/G ratio of 0.44 and a beta of 0.84. The company has a 50-day moving average price of $35.39 and a two-hundred day moving average price of $33.62. The company has a current ratio of 3.84, a quick ratio of 3.80 and a debt-to-equity ratio of 0.20. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $26.47 and a fifty-two week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.68 EPS 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 business had revenue of $200.49 million during the quarter, compared to analysts' expectations of $204.37 million. During the same period in the previous year, the company posted $1.05 earnings per share. Harmony Biosciences'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, analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Analyst Ratings Changes

HRMY has been the subject of several recent analyst reports. Mizuho lifted their price objective on shares of Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Truist Financial started coverage on Harmony Biosciences in a report on Monday, July 21st. They set a "buy" rating and a $48.00 price target for the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $55.00 price objective (up from $54.00) on shares of Harmony Biosciences in a research report on Thursday, July 10th. Oppenheimer initiated coverage on Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 target price on the stock. Finally, The Goldman Sachs Group began 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 investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $51.00.

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.