Martingale Asset Management L P Grows 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 grew its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 21.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 approximately 0.08% of Harmony Biosciences worth $1,517,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of HRMY. Financial Management Professionals Inc. purchased a new stake in Harmony Biosciences in the first quarter valued at approximately $29,000. Brooklyn Investment Group lifted its position in Harmony Biosciences by 1,031.9% during the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company's stock valued at $35,000 after purchasing an additional 970 shares during the period. GF Fund Management CO. LTD. acquired a new position in Harmony Biosciences during the fourth quarter valued at $41,000. Caitong International Asset Management Co. Ltd acquired a new position in Harmony Biosciences during the first quarter valued at $57,000. Finally, CWM LLC lifted its position in Harmony Biosciences by 34.8% during the first quarter. CWM LLC now owns 2,704 shares of the company's stock valued at $90,000 after purchasing an additional 698 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HRMY shares. Truist Financial started coverage on shares of Harmony Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $48.00 target price for the company. Needham & Company LLC restated a "buy" rating and set a $49.00 target price on shares of Harmony Biosciences in a research report on Tuesday, May 6th. The Goldman Sachs Group assumed coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They issued a "neutral" rating and a $33.00 price objective for the company. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $55.00 price objective (up previously from $54.00) on shares of Harmony Biosciences in a research report on Thursday, July 10th. Finally, Mizuho upped 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. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Harmony Biosciences has an average rating of "Buy" and a consensus price target of $51.00.

Harmony Biosciences Price Performance

Shares of Harmony Biosciences stock traded up $0.88 during trading hours on Wednesday, reaching $38.05. The stock had a trading volume of 500,603 shares, compared to its average volume of 649,653. The stock's 50 day moving average is $34.66 and its 200 day moving average is $33.64. The firm has a market capitalization of $2.19 billion, a PE ratio of 12.27, a PEG ratio of 0.44 and a beta of 0.84. Harmony Biosciences Holdings, Inc. has a twelve month low of $26.47 and a twelve month high of $41.61. 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 (NASDAQ:HRMY - Get Free Report) last released 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). The company had revenue of $200.49 million for the quarter, compared to analysts' expectations of $204.37 million. Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The firm's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS. Harmony Biosciences has set its FY 2025 guidance at EPS. Equities analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Harmony Biosciences Company 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.