Russell Investments Group Ltd. Sells 14,651 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Russell Investments Group Ltd. decreased its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 31.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,898 shares of the company’s stock after selling 14,651 shares during the period. Russell Investments Group Ltd. owned 0.06% of Harmony Biosciences worth $1,059,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. HighTower Advisors LLC lifted its holdings in shares of Harmony Biosciences by 73.2% in the 1st quarter. HighTower Advisors LLC now owns 19,748 shares of the company’s stock valued at $655,000 after acquiring an additional 8,347 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Harmony Biosciences by 27.1% in the 1st quarter. Public Sector Pension Investment Board now owns 121,154 shares of the company’s stock valued at $4,021,000 after acquiring an additional 25,802 shares during the last quarter. Nuveen LLC bought a new position in shares of Harmony Biosciences in the 1st quarter valued at about $3,805,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Harmony Biosciences in the 1st quarter valued at about $3,791,000. Finally, Citigroup Inc. lifted its holdings in shares of Harmony Biosciences by 2.8% in the 1st quarter. Citigroup Inc. now owns 205,340 shares of the company’s stock valued at $6,815,000 after acquiring an additional 5,539 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

HRMY has been the subject of a number of analyst reports. Oppenheimer initiated coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They issued an “outperform” rating and a $61.00 price target for the company. Wall Street Zen downgraded shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Mizuho raised their price objective on shares of 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 started coverage on shares of Harmony Biosciences in a research note on Thursday, July 10th. They issued a “neutral” rating and a $33.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $51.00.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY opened at $37.97 on Friday. The firm has a market cap of $2.18 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.45 and a beta of 0.84. The firm’s 50 day simple moving average is $34.88 and its 200-day simple moving average is $33.67. 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 quick ratio of 3.80 and a current ratio of 3.84.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results 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 analysts’ expectations of $204.37 million. Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The business’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the business posted $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

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.