Trexquant Investment LP Sells 61,846 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Trexquant Investment LP reduced its stake in Harmony Biosciences by 35.2%, selling 61,846 shares and now holding 113,728 shares valued at approximately $3.8 million.
• The company's quarterly earnings report showed an EPS of $0.68, missing expectations by $0.10, with a revenue of $200.49 million against an estimated $204.37 million.
• Analysts have a consensus rating of "Buy" for Harmony Biosciences, with target prices ranging from $48.00 to $61.00, indicating optimism about the company's future performance.

Trexquant Investment LP lessened its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 35.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,728 shares of the company's stock after selling 61,846 shares during the quarter. Trexquant Investment LP owned 0.20% of Harmony Biosciences worth $3,775,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Deep Track Capital LP bought a new position in Harmony Biosciences in the 4th quarter valued at $49,894,000. American Century Companies Inc. raised its position in 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 purchasing an additional 186,183 shares during the last quarter. LSV Asset Management raised its position in 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 purchasing an additional 238,744 shares during the last quarter. D. E. Shaw & Co. Inc. raised its position in Harmony Biosciences by 35.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 480,605 shares of the company's stock valued at $16,538,000 after purchasing an additional 124,656 shares during the last quarter. Finally, Northern Trust Corp raised its position in Harmony Biosciences by 37.5% in the 4th quarter. Northern Trust Corp now owns 404,462 shares of the company's stock valued at $13,918,000 after purchasing an additional 110,345 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Harmony Biosciences Trading Up 1.7%

NASDAQ:HRMY traded up $0.60 on Monday, reaching $36.59. The company's stock had a trading volume of 232,073 shares, compared to its average volume of 649,652. 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 quick ratio of 3.80 and a current ratio of 3.84. The firm has a market cap of $2.10 billion, a PE ratio of 11.80, a PEG ratio of 0.42 and a beta of 0.84. The business's 50-day moving average price is $35.47 and its two-hundred day moving average price is $33.57.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share (EPS) 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 business had revenue of $200.49 million during the quarter, compared to analyst estimates of $204.37 million. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm's revenue was up 16.0% on a year-over-year basis. Harmony Biosciences has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HRMY has been the subject of several research reports. The Goldman Sachs Group initiated coverage on Harmony Biosciences in a research note on Thursday, July 10th. They issued a "neutral" rating and a $33.00 target price for the company. Mizuho lifted their target price on Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Cantor Fitzgerald raised Harmony Biosciences to a "strong-buy" rating in a research note on Tuesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $55.00 target price (up from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th. Finally, Wall Street Zen cut Harmony Biosciences from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. One research 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target 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.