11,473 Shares in Harmony Biosciences Holdings, Inc. $HRMY Acquired by Petrus Trust Company LTA

Key Points

• Petrus Trust Company LTA invested $381,000 in Harmony Biosciences Holdings, acquiring 11,473 shares in the 1st quarter, highlighting growing interest from institutional investors.
• Analysts recently downgraded Harmony Biosciences from a "buy" to a "hold" rating, with a consensus target price of $51.00, indicating mixed sentiments regarding the company’s performance.
• The company reported a Q2 EPS of $0.68, falling short of analyst expectations and showing a year-over-year revenue increase of 16% despite missing revenue forecasts.

Petrus Trust Company LTA bought a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,473 shares of the company's stock, valued at approximately $381,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HRMY. Price T Rowe Associates Inc. MD boosted its holdings in shares of Harmony Biosciences by 33.0% in the fourth 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 grew its position in Harmony Biosciences by 12.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 19,385 shares of the company's stock worth $667,000 after buying an additional 2,144 shares during the period. Northern Trust Corp grew its position in Harmony Biosciences by 37.5% during the fourth quarter. Northern Trust Corp now owns 404,462 shares of the company's stock worth $13,918,000 after buying an additional 110,345 shares during the period. Comerica Bank grew its position 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 buying an additional 2,919 shares during the period. Finally, Ameriprise Financial Inc. grew its position in Harmony Biosciences by 22.0% during the fourth quarter. Ameriprise Financial Inc. now owns 103,801 shares of the company's stock worth $3,572,000 after buying an additional 18,730 shares during the period. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY traded down $1.03 on Friday, hitting $32.39. The company's stock had a trading volume of 809,622 shares, compared to its average volume of 627,965. Harmony Biosciences Holdings, Inc. has a 12-month low of $26.47 and a 12-month high of $41.61. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 0.39 and a beta of 0.84. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.84 and a quick ratio of 3.80. The stock has a 50 day moving average of $35.65 and a 200-day moving average of $33.55.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $200.49 million for 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 quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. Harmony Biosciences has set its FY 2025 guidance at EPS. As a group, research analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HRMY. The Goldman Sachs Group began coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They set a "neutral" rating and a $33.00 target price on the stock. Oppenheimer began coverage on shares of Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $55.00 target price (up from $54.00) on shares of Harmony Biosciences in a research report on Thursday, July 10th. Wall Street Zen lowered shares of Harmony Biosciences from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Truist Financial initiated 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 on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $51.00.

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.