Quantbot Technologies LP Buys 22,487 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Quantbot Technologies LP increased its stake in Harmony Biosciences Holdings, Inc. by 379.5% in Q1, holding 28,413 shares valued at approximately $943,000.
• Several institutions also made moves in Harmony Biosciences, with 86.23% of the stock owned by hedge funds and other institutional investors.
• Harmony Biosciences reported earnings of $0.68 per share for the last quarter, falling short of expectations, and has a projected average EPS of 2.43 for the current year, according to analysts.

Quantbot Technologies LP lifted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 379.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,413 shares of the company's stock after purchasing an additional 22,487 shares during the period. Quantbot Technologies LP's holdings in Harmony Biosciences were worth $943,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Deep Track Capital LP acquired a new stake in Harmony Biosciences during the 4th quarter worth $49,894,000. American Century Companies Inc. grew its holdings 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 valued at $42,775,000 after acquiring an additional 186,183 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Harmony Biosciences by 15.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company's stock valued at $41,739,000 after acquiring an additional 160,490 shares in the last quarter. LSV Asset Management grew its holdings in shares of Harmony Biosciences by 25.0% in the 1st quarter. LSV Asset Management now owns 1,194,961 shares of the company's stock valued at $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 shares of Harmony Biosciences by 66.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 500,000 shares of the company's stock valued at $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.

Harmony Biosciences Stock Down 2.8%

Shares of HRMY traded down $1.08 on Friday, reaching $36.89. The company's stock had a trading volume of 474,415 shares, compared to its average volume of 522,924. 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 Holdings, Inc. has a twelve month low of $26.47 and a twelve month high of $41.61. The stock has a market capitalization of $2.12 billion, a PE ratio of 11.90, a PEG ratio of 0.44 and a beta of 0.84. The firm has a fifty day moving average of $34.98 and a 200-day moving average of $33.67.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $204.37 million. During the same quarter in the prior year, the company earned $1.05 EPS. The company's revenue was up 16.0% on a year-over-year basis. 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.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HRMY. Mizuho lifted their price target on 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 issued a $55.00 price target (up from $54.00) on shares of Harmony Biosciences in a research report on Thursday, July 10th. Oppenheimer assumed coverage on shares of Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 price objective for the company. Wall Street Zen downgraded shares of Harmony Biosciences from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, The Goldman Sachs Group initiated coverage on shares of Harmony Biosciences in a report on Thursday, July 10th. They set a "neutral" rating and a $33.00 price target for the company. 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 stock. Based on data from MarketBeat.com, Harmony Biosciences currently has an average rating of "Buy" and an average 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.