Wellington Management Group LLP Takes Position in Harmony Biosciences Holdings, Inc. $HRMY

Wellington Management Group LLP bought a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,357 shares of the company's stock, valued at approximately $543,000.

Other large investors have also recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new position in Harmony Biosciences during the first quarter valued at $29,000. Brooklyn Investment Group raised its position in Harmony Biosciences by 1,031.9% during the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company's stock valued at $35,000 after buying an additional 970 shares during the period. GF Fund Management CO. LTD. acquired a new position in Harmony Biosciences during the fourth quarter valued at $41,000. Caitong International Asset Management Co. Ltd acquired a new position in Harmony Biosciences during the first quarter valued at $57,000. Finally, CWM LLC raised its position in 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 buying an additional 698 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Harmony Biosciences Stock Down 0.9%

Shares of NASDAQ HRMY traded down $0.31 during mid-day trading on Friday, reaching $35.99. 742,372 shares of the company traded hands, compared to its average volume of 494,329. 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 stock has a market cap of $2.07 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 0.42 and a beta of 0.84. The company's fifty day moving average is $35.47 and its two-hundred day moving average is $33.58. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $26.47 and a fifty-two week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.10). The company had revenue of $200.49 million for 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 business's revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 EPS. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Truist Financial assumed coverage on Harmony Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $48.00 price target on the stock. Mizuho upped their price target on Harmony Biosciences from $44.00 to $48.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Oppenheimer assumed coverage on Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target on the stock. The Goldman Sachs Group started coverage on Harmony Biosciences in a research report on Thursday, July 10th. They set a "neutral" rating and a $33.00 price target on the stock. Finally, Cantor Fitzgerald raised Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. 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. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $51.00.

Harmony Biosciences Company 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.