SG Americas Securities LLC Increases Stock Holdings in Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• SG Americas Securities LLC boosted its stake in Harmony by 4,102.4% in Q4 to 961,667 shares (about 1.67% of the company), adding 938,783 shares worth roughly $35.99 million.
• Harmony's latest quarter delivered revenue up 21.1% year‑over‑year to $243.78 million but it materially missed EPS expectations, reporting $0.38 versus the $0.84 consensus.
• Analyst sentiment is mixed: MarketBeat shows a consensus rating of "Hold" with an average target of $42.67 after several firms trimmed price targets and ratings.

SG Americas Securities LLC grew its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 4,102.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 961,667 shares of the company's stock after purchasing an additional 938,783 shares during the quarter. SG Americas Securities LLC owned approximately 1.67% of Harmony Biosciences worth $35,986,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new position in shares of Harmony Biosciences in the 4th quarter worth approximately $655,000. CWA Asset Management Group LLC grew its position in Harmony Biosciences by 3.6% during the fourth quarter. CWA Asset Management Group LLC now owns 40,117 shares of the company's stock valued at $1,501,000 after buying an additional 1,384 shares during the period. City Center Advisors LLC increased its holdings in Harmony Biosciences by 42.4% during the fourth quarter. City Center Advisors LLC now owns 11,409 shares of the company's stock valued at $427,000 after buying an additional 3,397 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in Harmony Biosciences by 500.7% during the third quarter. CIBC Private Wealth Group LLC now owns 20,233 shares of the company's stock valued at $558,000 after buying an additional 16,865 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Harmony Biosciences in the third quarter worth approximately $686,000. Institutional investors own 86.23% of the company's stock.

Insiders Place Their Bets

In other Harmony Biosciences news, CFO Sandip Kapadia sold 20,961 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $35.92, for a total value of $752,919.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 23.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HRMY shares. UBS Group dropped their price target on shares of Harmony Biosciences from $46.00 to $36.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 25th. Needham & Company LLC reduced their price objective on Harmony Biosciences from $46.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Harmony Biosciences in a report on Monday, December 29th. Zacks Research cut Harmony Biosciences from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Finally, Mizuho set a $50.00 target price on Harmony Biosciences in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Harmony Biosciences currently has a consensus rating of "Hold" and an average target price of $42.67.

Harmony Biosciences Price Performance

Shares of NASDAQ:HRMY opened at $27.59 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.60 and a quick ratio of 3.58. Harmony Biosciences Holdings, Inc. has a 1-year low of $25.52 and a 1-year high of $40.87. The company has a market capitalization of $1.60 billion, a P/E ratio of 10.18, a P/E/G ratio of 0.37 and a beta of 0.88. The firm's 50 day simple moving average is $32.57 and its two-hundred day simple moving average is $32.95.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.84 by ($0.46). The firm had revenue of $243.78 million during the quarter, compared to analysts' expectations of $240.04 million. Harmony Biosciences had a return on equity of 19.86% and a net margin of 18.29%.The business's revenue for the quarter was up 21.1% on a year-over-year basis. During the same period last year, the company earned $0.85 earnings per share. Research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal 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.

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