SG Americas Securities LLC Has $56.53 Million Stake in Harmony Biosciences Holdings, Inc. $HRMY

SG Americas Securities LLC increased its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 109.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,018,174 shares of the company’s stock after purchasing an additional 1,056,507 shares during the period. SG Americas Securities LLC owned approximately 3.49% of Harmony Biosciences worth $56,529,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of HRMY. Ruffer LLP bought a new position in shares of Harmony Biosciences during the fourth quarter worth about $1,536,000. American Century Companies Inc. lifted its stake in Harmony Biosciences by 11.2% in the 3rd quarter. American Century Companies Inc. now owns 1,669,565 shares of the company’s stock valued at $46,013,000 after acquiring an additional 168,145 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Harmony Biosciences in the 3rd quarter valued at approximately $1,572,000. CX Institutional boosted its position in Harmony Biosciences by 19.7% during the 4th quarter. CX Institutional now owns 275,809 shares of the company’s stock worth $10,321,000 after acquiring an additional 45,376 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in Harmony Biosciences during the 4th quarter worth approximately $3,327,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HRMY. Bank of America decreased their price target on shares of Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating for the company in a research note on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft cut shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a report on Monday, February 23rd. Weiss Ratings downgraded shares of Harmony Biosciences from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. Zacks Research raised shares of Harmony Biosciences from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. Finally, HC Wainwright reiterated a “buy” rating on shares of Harmony Biosciences in a research note on Friday, May 22nd. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.89.

Harmony Biosciences Stock Performance

Shares of NASDAQ HRMY opened at $33.43 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58. The stock has a 50 day moving average price of $31.52 and a 200 day moving average price of $33.04. The stock has a market capitalization of $1.94 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.23 and a beta of 0.96. Harmony Biosciences Holdings, Inc. has a 52 week low of $25.52 and a 52 week high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.55 earnings per share 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 period last year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Analysts predict that Harmony Biosciences Holdings, Inc. will post 3.2 earnings per share for the current fiscal year.

About Harmony Biosciences

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.