Invesco Ltd. Reduces Position in Harmony Biosciences Holdings, Inc. $HRMY

Invesco Ltd. reduced its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 443,687 shares of the company’s stock after selling 5,493 shares during the quarter. Invesco Ltd. owned about 0.77% of Harmony Biosciences worth $14,726,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Harmony Biosciences during the 1st quarter worth about $3,791,000. Citigroup Inc. grew its stake in Harmony Biosciences by 2.8% in the 1st quarter. Citigroup Inc. now owns 205,340 shares of the company’s stock worth $6,815,000 after acquiring an additional 5,539 shares during the period. Swiss National Bank raised its holdings in Harmony Biosciences by 6.0% in the 1st quarter. Swiss National Bank now owns 82,900 shares of the company’s stock valued at $2,751,000 after acquiring an additional 4,700 shares during the last quarter. LSV Asset Management lifted its stake in shares of Harmony Biosciences by 25.0% during the 1st quarter. LSV Asset Management now owns 1,194,961 shares of the company’s stock worth $39,661,000 after purchasing an additional 238,744 shares during the period. Finally, Alberta Investment Management Corp lifted its stake in shares of Harmony Biosciences by 57.0% during the 1st quarter. Alberta Investment Management Corp now owns 60,600 shares of the company’s stock worth $2,011,000 after purchasing an additional 22,000 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on HRMY shares. Oppenheimer began coverage on Harmony Biosciences in a research note on Monday, June 2nd. They issued an “outperform” rating and a $61.00 target price for the company. Cantor Fitzgerald upgraded shares of Harmony Biosciences to a “strong-buy” rating in a report on Tuesday, May 13th. The Goldman Sachs Group began coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They issued a “neutral” rating and a $33.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $55.00 target price (up from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. Finally, Truist Financial initiated coverage on shares of Harmony Biosciences in a report on Monday, July 21st. They issued a “buy” rating and a $48.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $51.00.

Harmony Biosciences Stock Performance

Harmony Biosciences stock opened at $37.86 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.84 and a quick ratio of 3.80. Harmony Biosciences Holdings, Inc. has a 12-month low of $26.47 and a 12-month high of $41.61. The firm’s fifty day moving average price is $34.47 and its 200 day moving average price is $33.69. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 0.44 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY) last posted 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). 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 revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

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.