Vanguard Group Inc. Sells 34,256 Shares of 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. decreased its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 0.7% during the first quarter, according to the company in its most recent disclosure 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 8.18% of Harmony Biosciences worth $155,972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in Harmony Biosciences during the 1st quarter valued at $29,000. GF Fund Management CO. LTD. purchased a new position in shares of Harmony Biosciences in the fourth quarter worth $41,000. CWM LLC lifted its holdings in shares of Harmony Biosciences by 34.8% during the first quarter. CWM LLC now owns 2,704 shares of the company's stock valued at $90,000 after purchasing an additional 698 shares in the last quarter. GAMMA Investing LLC boosted its position 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 buying an additional 2,022 shares during the last quarter. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of Harmony Biosciences during the fourth quarter valued at $124,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Stock Performance

HRMY traded down $0.25 during trading on Tuesday, hitting $37.17. The company's stock had a trading volume of 271,472 shares, compared to its average volume of 539,078. The business's 50 day simple moving average is $34.66 and its 200-day simple moving average is $33.64. The firm has a market cap of $2.14 billion, a PE ratio of 11.99, a P/E/G ratio of 0.44 and a beta of 0.84. Harmony Biosciences Holdings, Inc. has a one year low of $26.47 and a one year high of $41.61. The company has a quick ratio of 3.80, a current ratio of 3.84 and a debt-to-equity ratio of 0.20.

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 (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 for the quarter, compared to the consensus estimate of $204.37 million. During the same period in the previous year, the firm 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. As a group, sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HRMY. Oppenheimer started coverage on Harmony Biosciences in a research report on Monday, June 2nd. They issued an "outperform" rating and a $61.00 target price for the company. Needham & Company LLC reissued a "buy" rating and set a $49.00 price objective on shares of Harmony Biosciences in a report on Tuesday, May 6th. Cantor Fitzgerald upgraded shares of Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. Wall Street Zen cut shares of Harmony Biosciences from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, UBS Group decreased their target price on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, April 28th. One 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 presently has a consensus rating of "Buy" and a consensus price target of $51.00.

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.