AlphaQuest LLC Boosts Holdings in Harmony Biosciences Holdings, Inc. $HRMY

AlphaQuest LLC lifted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 340.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,601 shares of the company’s stock after buying an additional 13,603 shares during the period. AlphaQuest LLC’s holdings in Harmony Biosciences were worth $556,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HRMY. GAMMA Investing LLC grew its position in shares of Harmony Biosciences by 222.9% in the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company’s stock valued at $97,000 after buying an additional 2,022 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Harmony Biosciences by 52.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,221 shares of the company’s stock valued at $671,000 after buying an additional 6,915 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Harmony Biosciences by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 213,416 shares of the company’s stock valued at $7,083,000 after buying an additional 4,753 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Harmony Biosciences by 8.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 58,329 shares of the company’s stock valued at $1,936,000 after buying an additional 4,503 shares during the last quarter. Finally, Moloney Securities Asset Management LLC purchased a new position in shares of Harmony Biosciences in the 1st quarter valued at $513,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on HRMY shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Truist Financial assumed 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 on the stock. Needham & Company LLC lowered their price objective on shares of Harmony Biosciences from $48.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. The Goldman Sachs Group assumed coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They set a “neutral” rating and a $33.00 price objective on the stock. Finally, Wall Street Zen raised shares of Harmony Biosciences from a “hold” rating to a “buy” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $45.56.

Harmony Biosciences Stock Down 1.6%

HRMY stock opened at $29.64 on Wednesday. Harmony Biosciences Holdings, Inc. has a one year low of $25.52 and a one year high of $41.61. The stock has a market capitalization of $1.71 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.36 and a beta of 0.79. 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 company has a fifty day moving average of $31.18 and a 200-day moving average of $32.64.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, August 5th. The company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.10). Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The firm had revenue of $200.49 million during the quarter, compared to analyst estimates of $204.37 million. During the same quarter last year, the business posted $1.05 EPS. 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, analysts expect 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.