MetLife Investment Management LLC Cuts Holdings in Harmony Biosciences Holdings, Inc. $HRMY

MetLife Investment Management LLC lowered its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,779 shares of the company’s stock after selling 348 shares during the period. MetLife Investment Management LLC’s holdings in Harmony Biosciences were worth $756,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HRMY. Financial Management Professionals Inc. purchased a new position in shares of Harmony Biosciences during the first quarter valued at approximately $29,000. Brooklyn Investment Group raised its stake in Harmony Biosciences by 1,031.9% in the first quarter. Brooklyn Investment Group now owns 1,064 shares of the company’s stock worth $35,000 after buying an additional 970 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in Harmony Biosciences in the fourth quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Harmony Biosciences during the first quarter worth $57,000. Finally, CWM LLC increased its position in shares of Harmony Biosciences by 34.8% during the first quarter. CWM LLC now owns 2,704 shares of the company’s stock worth $90,000 after purchasing an additional 698 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial assumed coverage on Harmony Biosciences in a research report on Monday, July 21st. They set a “buy” rating and a $48.00 price target on the stock. 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 on the stock. The Goldman Sachs Group assumed coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They issued a “neutral” rating and a $33.00 price objective for the company. Mizuho lifted their price target on shares of Harmony Biosciences from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, Wall Street Zen downgraded shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $51.00.

Harmony Biosciences Stock Down 0.9%

Harmony Biosciences stock opened at $35.99 on Friday. The company has a market capitalization of $2.07 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 0.42 and a beta of 0.84. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.80 and a current ratio of 3.84. The firm has a 50 day moving average price of $35.47 and a 200 day moving average price of $33.58. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $26.47 and a fifty-two week high of $41.61.

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 the consensus estimate of $0.78 by ($0.10). The firm 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 business’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. Research analysts expect 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.