SG Americas Securities LLC Purchases 1,056,507 Shares of Harmony Biosciences Holdings, Inc. $HRMY

SG Americas Securities LLC lifted its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 109.9% during the 1st quarter, Holdings Channel reports. The firm owned 2,018,174 shares of the company’s stock after purchasing an additional 1,056,507 shares during the quarter. SG Americas Securities LLC’s holdings in Harmony Biosciences were worth $56,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in Harmony Biosciences by 589.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after purchasing an additional 643 shares during the last quarter. Allworth Financial LP grew its holdings in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after purchasing an additional 602 shares during the period. Leonteq Securities AG acquired a new position in Harmony Biosciences during the fourth quarter worth approximately $30,000. National Bank of Canada FI acquired a new position in Harmony Biosciences during the third quarter worth approximately $40,000. Finally, Clearstead Advisors LLC increased its position in Harmony Biosciences by 145.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after buying an additional 699 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating on shares of Harmony Biosciences in a research report on Friday, May 22nd. Truist Financial boosted their target price on Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft cut Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research note on Monday, February 23rd. Needham & Company LLC cut their price target on Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Finally, Zacks Research raised Harmony Biosciences from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.89.

Harmony Biosciences Stock Up 0.5%

Shares of HRMY opened at $33.43 on Tuesday. The firm has a market cap of $1.94 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 0.23 and a beta of 0.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58. Harmony Biosciences Holdings, Inc. has a 52 week low of $25.52 and a 52 week high of $40.87. The firm’s 50-day simple moving average is $31.52 and its 200 day simple moving average is $33.04.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The company had revenue of $215.39 million for the quarter, compared to analyst estimates of $220.84 million. During the same quarter last year, the business earned $0.78 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. On average, analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.2 earnings per share for the current year.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.