Vanguard Group Inc. Cuts Holdings in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Vanguard Group Inc. reduced its stake in Harmony Biosciences Holdings by 0.7%, now holding 4,699,353 shares valued at approximately $155.97 million.
• Harmony Biosciences reported earnings per share of $0.68, missing estimates, with revenue of $200.49 million for the most recent quarter.
• Analysts have varying ratings on Harmony Biosciences; the stock has a consensus rating of "Buy" with an average target price of $51.00.

Vanguard Group Inc. lessened its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 0.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,699,353 shares of the company's stock after selling 34,256 shares during the quarter. Vanguard Group Inc. owned approximately 8.18% of Harmony Biosciences worth $155,972,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on HRMY. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $55.00 price objective (up from $54.00) on shares of Harmony Biosciences in a research report on Thursday, July 10th. Needham & Company LLC reiterated a "buy" rating and set a $49.00 price target on shares of Harmony Biosciences in a report on Tuesday, May 6th. UBS Group reduced their price target on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a report on Monday, April 28th. The Goldman Sachs Group assumed 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. Finally, Oppenheimer assumed coverage on Harmony Biosciences in a report on Monday, June 2nd. They set an "outperform" rating and a $61.00 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 assigned a Hold rating to the stock. According to MarketBeat.com, Harmony Biosciences currently has an average rating of "Buy" and a consensus target price of $51.00.

Harmony Biosciences Trading Down 0.9%

Shares of HRMY traded down $0.3550 during trading hours on Monday, hitting $37.5050. 157,097 shares of the stock traded hands, compared to its average volume of 651,375. The business has a fifty day moving average of $34.47 and a 200-day moving average of $33.62. 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 1-year low of $26.47 and a 1-year high of $41.61. The firm has a market capitalization of $2.16 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.44 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its earnings results 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 company had revenue of $200.49 million during the quarter, compared to analyst estimates of $204.37 million. Harmony Biosciences had a net margin of 23.44% and a return on equity of 26.34%. The company's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. Harmony Biosciences has set its FY 2025 guidance at EPS. Analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Harmony Biosciences 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.