Livforsakringsbolaget Skandia Omsesidigt Purchases 10,900 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Harmony Biosciences Holdings, Inc. by 21.5%, acquiring an additional 10,900 shares, bringing its total ownership to approximately 0.11% of the company.
• Harmony Biosciences reported $0.68 earnings per share for the recent quarter, falling short of analysts' expectations of $0.78, while revenue was $200.49 million, below the predicted $204.37 million.
• Analysts maintain a consensus rating of "Buy" for Harmony Biosciences, with a current consensus price target set at $51.00 per share.

Livforsakringsbolaget Skandia Omsesidigt grew its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 21.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,700 shares of the company's stock after purchasing an additional 10,900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.11% of Harmony Biosciences worth $1,948,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HRMY. Exchange Traded Concepts LLC raised its stake in shares of Harmony Biosciences by 6.1% in the second quarter. Exchange Traded Concepts LLC now owns 32,100 shares of the company's stock valued at $1,014,000 after acquiring an additional 1,844 shares in the last quarter. Gallacher Capital Management LLC boosted its position in shares of Harmony Biosciences by 4.3% during the 2nd quarter. Gallacher Capital Management LLC now owns 9,981 shares of the company's stock worth $315,000 after purchasing an additional 413 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Harmony Biosciences by 16.8% in the first quarter. Voya Investment Management LLC now owns 26,722 shares of the company's stock valued at $887,000 after buying an additional 3,851 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Harmony Biosciences by 0.4% in the first quarter. Rhumbline Advisers now owns 109,073 shares of the company's stock valued at $3,620,000 after acquiring an additional 485 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Harmony Biosciences in the first quarter worth approximately $587,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wall Street Zen upgraded Harmony Biosciences from a "hold" rating to a "buy" rating in a research note on Saturday. The Goldman Sachs Group started coverage on Harmony Biosciences in a report on Thursday, July 10th. They set a "neutral" rating and a $33.00 target price on the stock. Oppenheimer assumed coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They issued an "outperform" rating and a $61.00 price objective on the stock. Truist Financial assumed coverage on shares of Harmony Biosciences in a report on Monday, July 21st. They set a "buy" rating and a $48.00 target price for the company. Finally, 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 research note on Thursday, July 10th. One equities research 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $51.00.

Harmony Biosciences Stock Performance

HRMY stock traded down $0.18 during mid-day trading on Tuesday, reaching $32.24. 116,457 shares of the stock traded hands, compared to its average volume of 665,027. Harmony Biosciences Holdings, Inc. has a 52 week low of $26.47 and a 52 week 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 business has a 50-day moving average of $35.49 and a two-hundred day moving average of $33.52. The firm has a market capitalization of $1.85 billion, a PE ratio of 10.40, a P/E/G ratio of 0.38 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.68 earnings per share (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 firm had revenue of $200.49 million for the quarter, compared to analyst estimates of $204.37 million. During the same quarter in the prior year, the firm posted $1.05 EPS. The firm's revenue for the quarter was up 16.0% compared to the same quarter last year. Harmony Biosciences has set its FY 2025 guidance at EPS. As a group, equities analysts predict 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.