HighTower Advisors LLC Has $655,000 Stock Position in Harmony Biosciences Holdings, Inc. $HRMY

HighTower Advisors LLC lifted its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 73.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,748 shares of the company’s stock after acquiring an additional 8,347 shares during the period. HighTower Advisors LLC’s holdings in Harmony Biosciences were worth $655,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in HRMY. Deep Track Capital LP bought a new stake in shares of Harmony Biosciences during the fourth quarter worth about $49,894,000. LSV Asset Management increased its position in shares of Harmony Biosciences by 25.0% during the first quarter. LSV Asset Management now owns 1,194,961 shares of the company’s stock worth $39,661,000 after acquiring an additional 238,744 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Harmony Biosciences by 1,709.0% during the first quarter. Allianz Asset Management GmbH now owns 220,704 shares of the company’s stock worth $7,325,000 after acquiring an additional 208,504 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Harmony Biosciences by 15.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company’s stock worth $41,739,000 after acquiring an additional 160,490 shares in the last quarter. Finally, Algert Global LLC increased its position in shares of Harmony Biosciences by 153.9% during the fourth quarter. Algert Global LLC now owns 230,908 shares of the company’s stock worth $7,946,000 after acquiring an additional 139,967 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HRMY shares. The Goldman Sachs Group started coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They set a “neutral” rating and a $33.00 target price for the company. Truist Financial began coverage on shares of Harmony Biosciences in a research report on Monday, July 21st. They issued a “buy” rating and a $48.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, May 6th. Wall Street Zen downgraded shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $55.00 price objective (up 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 Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Harmony Biosciences currently has an average rating of “Buy” and a consensus target price of $51.00.

Harmony Biosciences Stock Down 2.8%

Harmony Biosciences stock opened at $36.89 on Friday. Harmony Biosciences Holdings, Inc. has a twelve month low of $26.47 and a twelve month high of $41.61. The firm has a 50 day moving average price of $34.98 and a 200-day moving average price of $33.67. The company has a market capitalization of $2.12 billion, a P/E ratio of 11.90, a P/E/G ratio of 0.44 and a beta of 0.84. The company has a quick ratio of 3.80, a current ratio of 3.84 and a debt-to-equity ratio of 0.20.

Harmony Biosciences (NASDAQ:HRMY) last released its 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 for the quarter, compared to the consensus estimate of $204.37 million. During the same period in the prior year, the company earned $1.05 earnings per share. The firm’s revenue was up 16.0% on a year-over-year basis. 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 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.