Livforsakringsbolaget Skandia Omsesidigt Has $733,000 Stake in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Harmony Biosciences by 54.3%, selling 27,600 shares and bringing its total holdings to 23,200 shares worth approximately $733,000.
• Multiple hedge funds have significantly increased their positions in Harmony Biosciences, with New Vernon Capital Holdings II LLC leading at a 3,219% increase and now holding 488,424 shares.
• Research analysts have given Harmony Biosciences an average rating of "Buy" and an average target price of $51.00, although Wall Street Zen has recently downgraded it from a "buy" to a "hold" rating.

Livforsakringsbolaget Skandia Omsesidigt reduced its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 54.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,200 shares of the company's stock after selling 27,600 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Harmony Biosciences were worth $733,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. American Century Companies Inc. raised its position in shares of Harmony Biosciences by 16.9% in the 1st quarter. American Century Companies Inc. now owns 1,288,787 shares of the company's stock worth $42,775,000 after buying an additional 186,183 shares during the period. LSV Asset Management boosted its position in shares of Harmony Biosciences by 25.0% in the first quarter. LSV Asset Management now owns 1,194,961 shares of the company's stock worth $39,661,000 after buying an additional 238,744 shares during the period. New Vernon Capital Holdings II LLC grew its stake in shares of Harmony Biosciences by 3,219.0% in the first quarter. New Vernon Capital Holdings II LLC now owns 488,424 shares of the company's stock valued at $16,211,000 after buying an additional 473,708 shares in the last quarter. Voloridge Investment Management LLC grew its stake in shares of Harmony Biosciences by 24.4% in the fourth quarter. Voloridge Investment Management LLC now owns 356,072 shares of the company's stock valued at $12,252,000 after buying an additional 69,886 shares in the last quarter. Finally, Capital Management Corp VA grew its stake in shares of Harmony Biosciences by 0.3% in the first quarter. Capital Management Corp VA now owns 341,961 shares of the company's stock valued at $11,350,000 after buying an additional 1,001 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Price Performance

HRMY traded down $0.09 during trading on Friday, reaching $32.54. The stock had a trading volume of 1,213,756 shares, compared to its average volume of 701,135. Harmony Biosciences Holdings, Inc. has a 1-year low of $26.47 and a 1-year high of $41.61. The stock has a 50 day moving average of $35.53 and a two-hundred day moving average of $33.53. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 0.38 and a beta of 0.84. 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 earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period last year, the firm earned $1.05 earnings per share. Harmony Biosciences'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 anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HRMY shares. The Goldman Sachs Group began coverage on Harmony Biosciences in a research note on Thursday, July 10th. They set a "neutral" rating and a $33.00 price objective for the company. Oppenheimer began coverage on Harmony Biosciences in a report on Monday, June 2nd. They issued an "outperform" rating and a $61.00 price objective for the company. Wall Street Zen raised Harmony Biosciences from a "hold" rating to a "buy" rating in a report on Saturday. Truist Financial began 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 reissued a "buy" rating and issued a $55.00 price objective (up from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $51.00.

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.