Voya Investment Management LLC Increases Position in Harmony Biosciences Holdings, Inc. $HRMY

Voya Investment Management LLC increased its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 16.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,722 shares of the company’s stock after purchasing an additional 3,851 shares during the period. Voya Investment Management LLC’s holdings in Harmony Biosciences were worth $887,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. American Century Companies Inc. boosted its stake in Harmony Biosciences by 16.9% in the first quarter. American Century Companies Inc. now owns 1,288,787 shares of the company’s stock valued at $42,775,000 after acquiring an additional 186,183 shares during the period. LSV Asset Management grew its position in Harmony Biosciences by 25.0% during the 1st quarter. LSV Asset Management now owns 1,194,961 shares of the company’s stock worth $39,661,000 after purchasing an additional 238,744 shares in the last quarter. New Vernon Capital Holdings II LLC grew its position in Harmony Biosciences by 3,219.0% during the 1st quarter. New Vernon Capital Holdings II LLC now owns 488,424 shares of the company’s stock worth $16,211,000 after purchasing an additional 473,708 shares in the last quarter. Capital Management Corp VA grew its position in Harmony Biosciences by 0.3% during the 1st quarter. Capital Management Corp VA now owns 341,961 shares of the company’s stock worth $11,350,000 after purchasing an additional 1,001 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Harmony Biosciences by 1,709.0% during the 1st quarter. Allianz Asset Management GmbH now owns 220,704 shares of the company’s stock valued at $7,325,000 after acquiring an additional 208,504 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HRMY has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on shares of Harmony Biosciences in a report on Thursday, July 10th. They issued a “neutral” rating and a $33.00 price objective for the company. Wall Street Zen raised shares of Harmony Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $55.00 target price (up previously from $54.00) on shares of Harmony Biosciences in a research report on Thursday, July 10th. Needham & Company LLC cut their target price on shares of Harmony Biosciences from $48.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Truist Financial initiated coverage on shares of Harmony Biosciences in a research report on Monday, July 21st. They set a “buy” rating and a $48.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $50.20.

Harmony Biosciences Price Performance

HRMY opened at $26.76 on Thursday. Harmony Biosciences Holdings, Inc. has a one year low of $26.47 and a one year high of $41.61. The stock has a market capitalization of $1.54 billion, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 0.38 and a beta of 0.84. 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’s 50 day simple moving average is $35.26 and its 200-day simple moving average is $33.46.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.68 earnings per share (EPS) 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 business had revenue of $200.49 million during the quarter, compared to the consensus estimate of $204.37 million. During the same period in the previous year, the business posted $1.05 earnings per share. Harmony Biosciences’s revenue was up 16.0% compared to the same quarter last year. Harmony Biosciences has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal 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.