PDT Partners LLC Has $719,000 Stake in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• PDT Partners LLC has reduced its stake in Harmony Biosciences Holdings by 45.4%, selling 18,036 shares in the first quarter, resulting in a total of 21,676 shares owned.
• In a recent earnings report, Harmony Biosciences missed the consensus EPS estimate of $0.78, reporting $0.68 per share, while revenue was $200.49 million, below expectations.
• Wall Street analysts maintain a consensus rating of "Buy" for Harmony Biosciences, with a price target of $51.00, highlighting optimism despite recent earnings performance.

PDT Partners LLC decreased its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 45.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,676 shares of the company's stock after selling 18,036 shares during the quarter. PDT Partners LLC's holdings in Harmony Biosciences were worth $719,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in Harmony Biosciences by 33.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,788 shares of the company's stock valued at $681,000 after acquiring an additional 4,911 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Harmony Biosciences by 12.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 19,385 shares of the company's stock valued at $667,000 after acquiring an additional 2,144 shares during the period. Northern Trust Corp increased its holdings in shares of Harmony Biosciences by 37.5% during the fourth quarter. Northern Trust Corp now owns 404,462 shares of the company's stock valued at $13,918,000 after acquiring an additional 110,345 shares in the last quarter. AQR Capital Management LLC raised its holdings in Harmony Biosciences by 11.4% during the fourth quarter. AQR Capital Management LLC now owns 158,856 shares of the company's stock valued at $5,466,000 after acquiring an additional 16,271 shares during the period. Finally, Comerica Bank increased its stake in Harmony Biosciences by 27.6% during the fourth quarter. Comerica Bank now owns 13,495 shares of the company's stock worth $464,000 after acquiring an additional 2,919 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HRMY shares. Mizuho raised their target price on shares of Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. 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 price target on the stock. Cantor Fitzgerald upgraded shares of Harmony Biosciences to a "strong-buy" rating in a research note on Tuesday, May 13th. Oppenheimer started coverage on shares of Harmony Biosciences in a research report on Monday, June 2nd. They issued an "outperform" rating and a $61.00 price target on the stock. Finally, The Goldman Sachs Group started coverage on shares of Harmony Biosciences in a research note on Thursday, July 10th. They set a "neutral" rating and a $33.00 price objective on the stock. 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 stock presently has an average rating of "Buy" and an average target price of $51.00.

Harmony Biosciences Price Performance

Shares of NASDAQ:HRMY traded down $0.16 during trading on Monday, reaching $35.83. The stock had a trading volume of 1,067,756 shares, compared to its average volume of 653,868. The business has a fifty day moving average price of $35.47 and a 200-day moving average price of $33.57. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.80 and a current ratio of 3.84. The stock has a market cap of $2.06 billion, a PE ratio of 11.56, a PEG ratio of 0.42 and a beta of 0.84. Harmony Biosciences Holdings, Inc. has a 1-year low of $26.47 and a 1-year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released 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 return on equity of 26.34% and a net margin of 23.44%.The business had revenue of $200.49 million for the quarter, compared to analyst estimates of $204.37 million. During the same quarter in the previous year, the firm posted $1.05 EPS. The business's revenue for the quarter was up 16.0% on a year-over-year basis. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, equities analysts forecast 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.