SG Americas Securities LLC Acquires 12,599 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

SG Americas Securities LLC increased its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 56.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,097 shares of the company's stock after purchasing an additional 12,599 shares during the period. SG Americas Securities LLC owned 0.06% of Harmony Biosciences worth $1,165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new stake in Harmony Biosciences during the 1st quarter valued at $29,000. GF Fund Management CO. LTD. acquired a new stake in Harmony Biosciences during the 4th quarter valued at $41,000. PNC Financial Services Group Inc. raised its stake in Harmony Biosciences by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock valued at $80,000 after purchasing an additional 519 shares during the period. GAMMA Investing LLC raised its stake in Harmony Biosciences by 222.9% during the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock valued at $97,000 after purchasing an additional 2,022 shares during the period. Finally, Virtus Investment Advisers Inc. acquired a new stake in Harmony Biosciences during the 4th quarter valued at $124,000. Institutional investors own 86.23% of the company's stock.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY traded up $0.01 during mid-day trading on Thursday, hitting $32.48. 422,843 shares of the stock were exchanged, compared to its average volume of 626,648. The company has a market cap of $1.87 billion, a P/E ratio of 12.40, a PEG ratio of 0.48 and a beta of 0.87. The stock's fifty day simple moving average is $32.47 and its two-hundred day simple moving average is $34.02. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.63 and a current ratio of 3.67. Harmony Biosciences Holdings, Inc. has a twelve month low of $26.47 and a twelve month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.19. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. The company had revenue of $184.73 million during the quarter, compared to analyst estimates of $184.26 million. During the same quarter last year, the business posted $0.67 earnings per share. The company's revenue was up 19.5% on a year-over-year basis. As a group, analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on HRMY shares. HC Wainwright reissued a "buy" rating and set a $70.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $49.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, May 6th. UBS Group cut their price objective on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Cantor Fitzgerald raised shares of Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. Finally, Oppenheimer initiated coverage on shares of Harmony Biosciences in a research report on Monday, June 2nd. They issued an "outperform" rating and a $61.00 price target for the company. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Harmony Biosciences currently has a consensus rating of "Buy" and an average target price of $53.00.

Harmony Biosciences Company 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.