Northern Trust Corp Lowers Stock Position in Harmony Biosciences Holdings, Inc. $HRMY

Northern Trust Corp lessened its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 403,542 shares of the company’s stock after selling 920 shares during the quarter. Northern Trust Corp owned 0.70% of Harmony Biosciences worth $13,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in HRMY. Price T Rowe Associates Inc. MD boosted its holdings in Harmony Biosciences by 33.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,788 shares of the company’s stock valued at $681,000 after purchasing an additional 4,911 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Harmony Biosciences by 12.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 19,385 shares of the company’s stock valued at $667,000 after buying an additional 2,144 shares in the last quarter. AQR Capital Management LLC increased its holdings in Harmony Biosciences by 11.4% in the fourth quarter. AQR Capital Management LLC now owns 158,856 shares of the company’s stock valued at $5,466,000 after buying an additional 16,271 shares in the last quarter. Comerica Bank increased its holdings in Harmony Biosciences by 27.6% in the fourth quarter. Comerica Bank now owns 13,495 shares of the company’s stock valued at $464,000 after buying an additional 2,919 shares in the last quarter. Finally, AXA S.A. increased its holdings in Harmony Biosciences by 12.8% in the fourth quarter. AXA S.A. now owns 41,471 shares of the company’s stock valued at $1,427,000 after buying an additional 4,707 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on HRMY shares. Mizuho increased their target price on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft reaffirmed 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. Oppenheimer began coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They issued an “outperform” rating and a $61.00 target price for the company. The Goldman Sachs Group began coverage on shares of Harmony Biosciences in a report on Thursday, July 10th. They issued a “neutral” rating and a $33.00 price target on the stock. Finally, Cantor Fitzgerald raised shares of Harmony Biosciences to a “strong-buy” rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Harmony Biosciences has a consensus rating of “Buy” and an average price target of $51.00.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY opened at $37.53 on Thursday. The company has a market cap of $2.16 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 0.43 and a beta of 0.84. Harmony Biosciences Holdings, Inc. has a 12 month low of $26.47 and a 12 month 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 3.80. The company has a 50-day simple moving average of $35.30 and a 200-day simple moving average of $33.64.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate 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 company’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current 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.