Martingale Asset Management L P Increases Stake in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Martingale Asset Management L P increased its stake in Harmony Biosciences by 21.6%, now owning approximately 0.08% of the company valued at $1.5 million.
• Harmony Biosciences reported an EPS of $0.68 for the last quarter, missing analysts' expectations, although revenue increased by 16.0% year-over-year to $200.49 million.
• Analysts hold a favorable outlook on Harmony Biosciences, with an average rating of "Buy" and an average target price of $51.00.

Martingale Asset Management L P lifted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 21.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,712 shares of the company's stock after purchasing an additional 8,113 shares during the period. Martingale Asset Management L P owned about 0.08% of Harmony Biosciences worth $1,517,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Deep Track Capital LP bought a new position in shares of Harmony Biosciences in the fourth quarter worth about $49,894,000. American Century Companies Inc. grew its holdings in Harmony Biosciences by 16.9% during the 1st quarter. American Century Companies Inc. now owns 1,288,787 shares of the company's stock worth $42,775,000 after acquiring an additional 186,183 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Harmony Biosciences by 15.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company's stock worth $41,739,000 after acquiring an additional 160,490 shares in the last quarter. LSV Asset Management grew its holdings in Harmony Biosciences by 25.0% during the 1st quarter. LSV Asset Management now owns 1,194,961 shares of the company's stock worth $39,661,000 after acquiring an additional 238,744 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Harmony Biosciences by 66.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 500,000 shares of the company's stock worth $17,205,000 after acquiring an additional 200,000 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on HRMY shares. Truist Financial started coverage on shares of Harmony Biosciences in a report on Monday, July 21st. They set a "buy" rating and a $48.00 target price on the stock. Mizuho increased their target price on shares of Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $55.00 target price (up from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. Needham & Company LLC reiterated a "buy" rating and set a $49.00 target price on shares of Harmony Biosciences in a report on Tuesday, May 6th. Finally, Wall Street Zen cut shares of Harmony Biosciences from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. 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. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $51.00.

Harmony Biosciences Stock Down 2.0%

Shares of HRMY stock traded down $0.76 during mid-day trading on Friday, hitting $37.22. 82,098 shares of the stock traded hands, compared to its average volume of 644,808. The stock has a market cap of $2.14 billion, a P/E ratio of 11.99, a P/E/G ratio of 0.45 and a beta of 0.84. The stock's fifty day moving average is $34.88 and its two-hundred day moving average is $33.67. Harmony Biosciences Holdings, Inc. has a 52-week low of $26.47 and a 52-week high of $41.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.84 and a quick ratio of 3.80.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). The company 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 business's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. Equities analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current 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.