venBio Partners LLC Reduces Position in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• venBio Partners LLC reduced its stake in Harmony Biosciences by 9.3%, owning 489,194 shares worth approximately $16.24 million at the end of the last quarter.
• Harmony Biosciences has an average target price of $51.00 from analysts, reflecting a generally positive outlook with multiple "buy" ratings.
• In its most recent earnings report, Harmony missed consensus EPS estimates, reporting $0.68 compared to the expected $0.78, despite a revenue increase of 16% year-over-year.

venBio Partners LLC decreased its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 9.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 489,194 shares of the company's stock after selling 50,000 shares during the period. Harmony Biosciences comprises approximately 13.1% of venBio Partners LLC's investment portfolio, making the stock its 3rd biggest holding. venBio Partners LLC owned approximately 0.85% of Harmony Biosciences worth $16,236,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HRMY. Aurora Investment Counsel increased its stake in shares of Harmony Biosciences by 0.6% during the first quarter. Aurora Investment Counsel now owns 61,667 shares of the company's stock worth $2,047,000 after purchasing an additional 374 shares during the period. Rhumbline Advisers increased its stake in shares of Harmony Biosciences by 0.4% during the first quarter. Rhumbline Advisers now owns 109,073 shares of the company's stock worth $3,620,000 after purchasing an additional 485 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Harmony Biosciences by 1.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,331 shares of the company's stock worth $2,145,000 after purchasing an additional 678 shares during the period. BOKF NA increased its stake in shares of Harmony Biosciences by 4.7% during the fourth quarter. BOKF NA now owns 15,400 shares of the company's stock worth $521,000 after purchasing an additional 690 shares during the period. Finally, CWM LLC increased its stake in shares of Harmony Biosciences by 34.8% during the first quarter. CWM LLC now owns 2,704 shares of the company's stock worth $90,000 after purchasing an additional 698 shares during the period. Institutional investors own 86.23% of the company's stock.

Harmony Biosciences Trading Down 2.8%

Shares of HRMY opened at $36.89 on Friday. Harmony Biosciences Holdings, Inc. has a 52-week low of $26.47 and a 52-week high of $41.61. The business's fifty day moving average is $34.98 and its 200-day moving average is $33.64. 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 $2.12 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 0.43 and a beta of 0.84.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HRMY shares. Truist Financial started coverage on Harmony Biosciences in a research note on Monday, July 21st. They set a "buy" rating and a $48.00 target price on the stock. Mizuho increased their target price on Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. The Goldman Sachs Group assumed coverage on Harmony Biosciences in a research note on Thursday, July 10th. They set a "neutral" rating and a $33.00 target price on the stock. Needham & Company LLC restated a "buy" rating and set a $49.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $55.00 price objective (up previously from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus 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.

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