Harmony Biosciences Holdings, Inc. $HRMY Stake Reduced by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Harmony Biosciences by 31.5%, selling 14,651 shares and retaining 31,898 shares valued at approximately $1,059,000.
• Analysts have mixed views on Harmony Biosciences, with reports showing price targets ranging from $33.00 to $61.00, while the consensus rating remains a "Buy" at an average target price of $51.00.
• In its latest earnings report, Harmony Biosciences missed EPS estimates with a reported $0.68 EPS, compared to forecasts of $0.78, despite a 16.0% revenue increase year-over-year.

Russell Investments Group Ltd. reduced its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 31.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,898 shares of the company's stock after selling 14,651 shares during the period. Russell Investments Group Ltd. owned 0.06% of Harmony Biosciences worth $1,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deep Track Capital LP purchased a new stake in shares of Harmony Biosciences during the fourth quarter valued at approximately $49,894,000. LSV Asset Management grew its position in shares of Harmony Biosciences by 25.0% during the first quarter. LSV Asset Management now owns 1,194,961 shares of the company's stock worth $39,661,000 after buying an additional 238,744 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Harmony Biosciences by 1,709.0% during the first quarter. Allianz Asset Management GmbH now owns 220,704 shares of the company's stock worth $7,325,000 after buying an additional 208,504 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Harmony Biosciences by 15.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company's stock worth $41,739,000 after buying an additional 160,490 shares in the last quarter. Finally, Algert Global LLC grew its position in shares of Harmony Biosciences by 153.9% during the fourth quarter. Algert Global LLC now owns 230,908 shares of the company's stock worth $7,946,000 after buying an additional 139,967 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY traded up $0.43 during midday trading on Wednesday, reaching $37.53. 1,067,972 shares of the company traded hands, compared to its average volume of 476,642. Harmony Biosciences Holdings, Inc. has a 52 week low of $26.47 and a 52 week high of $41.61. The stock has a 50-day moving average price of $35.30 and a 200 day moving average price of $33.64. 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 company has a market cap of $2.16 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 0.43 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings data 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 net margin of 23.44% and a return on equity of 26.34%. The company had revenue of $200.49 million for the quarter, compared to the consensus estimate of $204.37 million. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Harmony Biosciences's revenue for the quarter was up 16.0% compared to the same quarter last year. Harmony Biosciences has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on HRMY shares. Truist Financial started coverage on shares of Harmony Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $48.00 price objective for the company. Cantor Fitzgerald raised shares of Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. Oppenheimer assumed coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target for the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $55.00 price target (up previously from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. Finally, Mizuho boosted their price target on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus 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.