Raymond James Financial Inc. Increases Stock Holdings in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Raymond James Financial Inc. increased its stake in Harmony Biosciences Holdings, Inc. by 288.2%, owning 147,164 shares valued at approximately $4.88 million as of the last reporting period.
• Harmony Biosciences reported an EPS of $0.68 in its latest earnings release, missing analysts' expectations by $0.10, while its revenue was $200.49 million, below forecasts of $204.37 million.
• Several analysts have provided positive ratings for Harmony Biosciences, with an average target price of $51.00, highlighting a general consensus of a "Buy" rating among investment analysts.

Raymond James Financial Inc. grew its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 288.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,164 shares of the company's stock after purchasing an additional 109,257 shares during the period. Raymond James Financial Inc. owned approximately 0.26% of Harmony Biosciences worth $4,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in HRMY. GAMMA Investing LLC boosted its holdings in shares of Harmony Biosciences by 222.9% during the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock valued at $97,000 after acquiring an additional 2,022 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Harmony Biosciences by 52.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 20,221 shares of the company's stock valued at $671,000 after acquiring an additional 6,915 shares during the period. Arizona State Retirement System increased its holdings in shares of Harmony Biosciences by 6.4% in the 1st quarter. Arizona State Retirement System now owns 12,261 shares of the company's stock valued at $407,000 after purchasing an additional 737 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Harmony Biosciences by 21.8% in the 4th quarter. Two Sigma Advisers LP now owns 98,900 shares of the company's stock valued at $3,403,000 after purchasing an additional 17,700 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Harmony Biosciences by 56.0% in the 1st quarter. SG Americas Securities LLC now owns 35,097 shares of the company's stock valued at $1,165,000 after buying an additional 12,599 shares in the last quarter. Institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Performance

NASDAQ HRMY traded down $0.79 on Wednesday, reaching $33.21. The stock had a trading volume of 829,859 shares, compared to its average volume of 592,278. The company has a market cap of $1.91 billion, a P/E ratio of 10.71, a price-to-earnings-growth ratio of 0.40 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. 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 firm has a fifty day moving average of $35.61 and a two-hundred day moving average of $33.58.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.68 earnings per share 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 the consensus estimate of $204.37 million. Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The company's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Wall Street Analysts Forecast Growth

HRMY has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on Harmony Biosciences in a report on Thursday, July 10th. They set a "neutral" rating and a $33.00 price target for the company. Oppenheimer started coverage on Harmony Biosciences in a report on Monday, June 2nd. They set an "outperform" rating and a $61.00 target price on the stock. Cantor Fitzgerald upgraded Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. Truist Financial initiated coverage on Harmony Biosciences in a report on Monday, July 21st. They set a "buy" rating and a $48.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $55.00 price objective (up previously from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target 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.