SEB Asset Management AB Acquires Shares of 40,532 Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• SEB Asset Management AB opened a new position in Harmony Biosciences, buying 40,532 shares worth about $1.135 million in the first quarter. The stake represented roughly 0.07% of the company.
• Harmony Biosciences reported Q1 earnings below expectations, posting $0.55 EPS versus the $0.76 consensus estimate, while revenue came in at $215.39 million versus $220.84 million expected. Still, revenue rose 16.6% year over year.
• Analysts remain mixed but generally constructive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $42.50. Recent calls included price-target increases from Truist and Deutsche Bank, while HC Wainwright reiterated a $55 buy target.

SEB Asset Management AB acquired a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 40,532 shares of the company's stock, valued at approximately $1,135,000. SEB Asset Management AB owned 0.07% of Harmony Biosciences at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings 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 period. Allworth Financial LP increased its holdings in shares of 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 stake in shares of Harmony Biosciences in the fourth quarter valued at approximately $30,000. National Bank of Canada FI acquired a new stake in shares of Harmony Biosciences in the third quarter valued at approximately $40,000. Finally, Clearstead Advisors LLC boosted its stake in shares of Harmony Biosciences by 145.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company's stock valued at $44,000 after buying an additional 699 shares during the period. Institutional investors and hedge funds own 86.23% of the company's stock.

Harmony Biosciences Stock Up 2.7%

Shares of HRMY opened at $35.80 on Friday. Harmony Biosciences Holdings, Inc. has a one year low of $25.52 and a one year high of $40.87. The company has a market cap of $2.07 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.32 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.58 and a quick ratio of 3.56. The firm has a 50 day simple moving average of $33.85 and a two-hundred day simple moving average of $32.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $215.39 million during the quarter, compared to the consensus estimate of $220.84 million. Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The company's revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. Research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HRMY shares. Truist Financial increased their price target on Harmony Biosciences from $25.00 to $29.00 and gave the stock a "hold" rating in a research report on Friday, May 8th. Zacks Research upgraded Harmony Biosciences from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. Deutsche Bank Aktiengesellschaft increased their target price on Harmony Biosciences from $30.00 to $36.00 and gave the stock a "hold" rating in a report on Tuesday, June 30th. Weiss Ratings upgraded Harmony Biosciences from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 23rd. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $55.00 price target on shares of Harmony Biosciences in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $42.50.

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.

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