AQR Capital Management LLC Increases Stake in Harmony Biosciences Holdings, Inc. $HRMY

AQR Capital Management LLC lifted its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 166,340 shares of the company’s stock after buying an additional 7,484 shares during the quarter. AQR Capital Management LLC owned about 0.29% of Harmony Biosciences worth $5,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of HRMY. The Manufacturers Life Insurance Company increased its position in shares of Harmony Biosciences by 12.4% during 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 during the period. Northern Trust Corp grew its holdings in Harmony Biosciences by 37.5% in the fourth quarter. Northern Trust Corp now owns 404,462 shares of the company’s stock worth $13,918,000 after purchasing an additional 110,345 shares during the period. Comerica Bank grew its holdings in Harmony Biosciences by 27.6% in the fourth quarter. Comerica Bank now owns 13,495 shares of the company’s stock worth $464,000 after purchasing an additional 2,919 shares during the period. Ameriprise Financial Inc. grew its holdings in Harmony Biosciences by 22.0% in the fourth quarter. Ameriprise Financial Inc. now owns 103,801 shares of the company’s stock worth $3,572,000 after purchasing an additional 18,730 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Harmony Biosciences in the fourth quarter worth about $2,025,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HRMY. 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 objective on the stock. Wall Street Zen cut shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Oppenheimer began coverage on shares of Harmony Biosciences in a report on Monday, June 2nd. They issued an “outperform” rating and a $61.00 price objective on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $55.00 price objective (up previously from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. Finally, Truist Financial began coverage on shares of Harmony Biosciences in a research note on Monday, July 21st. They issued a “buy” rating and a $48.00 target price on the stock. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $51.00.

Harmony Biosciences Stock Down 3.1%

Shares of Harmony Biosciences stock opened at $32.39 on Friday. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 0.39 and a beta of 0.84. The company’s 50 day moving average is $35.65 and its 200 day moving average is $33.55. Harmony Biosciences Holdings, Inc. has a twelve month low of $26.47 and a twelve month high of $41.61. 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 issued its quarterly earnings data 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). The company had revenue of $200.49 million for the quarter, compared to the consensus estimate of $204.37 million. Harmony Biosciences had a net margin of 23.44% and a return on equity of 26.34%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the company earned $1.05 EPS. Harmony Biosciences has set its FY 2025 guidance at EPS. Research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS 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.