XTX Topco Ltd Buys 17,683 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Key Points

• XTX Topco Ltd significantly increased its stake in Harmony Biosciences by 259.4% during the first quarter, owning 24,499 shares valued at $813,000.
• The company's quarterly earnings exceeded expectations, reporting $0.78 EPS compared to the consensus estimate of $0.59, with a revenue increase of 19.5% year-over-year.
• Analysts maintain a positive outlook on Harmony Biosciences, with a consensus target price of $51.00 and multiple firms upgrading their ratings to "buy" or "strong-buy."

XTX Topco Ltd boosted its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 259.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,499 shares of the company's stock after purchasing an additional 17,683 shares during the period. XTX Topco Ltd's holdings in Harmony Biosciences were worth $813,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FMR LLC raised its position in shares of Harmony Biosciences by 1.9% in the 4th quarter. FMR LLC now owns 5,329,902 shares of the company's stock worth $183,402,000 after acquiring an additional 101,182 shares in the last quarter. Vanguard Group Inc. grew its holdings in Harmony Biosciences by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock worth $162,883,000 after acquiring an additional 1,262,362 shares during the period. Deep Track Capital LP purchased a new stake in shares of Harmony Biosciences in the 4th quarter worth about $49,894,000. Dimensional Fund Advisors LP grew its holdings in Harmony Biosciences by 15.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company's stock valued at $41,739,000 after purchasing an additional 160,490 shares during the period. Finally, LSV Asset Management lifted its position in Harmony Biosciences by 23.8% during the 4th quarter. LSV Asset Management now owns 956,217 shares of the company's stock worth $32,903,000 after acquiring an additional 184,026 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY traded down $0.66 during midday trading on Thursday, reaching $34.01. 192,988 shares of the stock traded hands, compared to its average volume of 667,131. The stock has a market capitalization of $1.95 billion, a PE ratio of 10.98, a P/E/G ratio of 0.48 and a beta of 0.84. The company's 50 day moving average is $34.16 and its 200 day moving average is $33.92. Harmony Biosciences Holdings, Inc. has a one year low of $26.47 and a one year high of $41.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.84 and a quick ratio of 3.63.

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 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 company had revenue of $200.49 million during the quarter, compared to analysts' expectations of $204.37 million. During the same period in the prior year, the business posted $1.05 earnings per share. The company's quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Oppenheimer began coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They set an "outperform" rating and a $61.00 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 report on Thursday, May 15th. Truist Financial began coverage on Harmony Biosciences in a research report on Monday, July 21st. They issued a "buy" rating and a $48.00 price target on the stock. Needham & Company LLC restated a "buy" rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $55.00 target price (up previously from $54.00) on shares of Harmony Biosciences in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.