Skandinaviska Enskilda Banken AB publ Makes New Investment in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Skandinaviska Enskilda Banken AB publ bought a new position in 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 bought 16,400 shares of the company's stock, valued at approximately $544,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new stake in shares of Harmony Biosciences during the 1st quarter valued at about $29,000. GF Fund Management CO. LTD. acquired a new stake in Harmony Biosciences during the fourth quarter valued at approximately $41,000. CWM LLC grew its stake in shares of Harmony Biosciences by 34.8% in the 1st quarter. CWM LLC now owns 2,704 shares of the company's stock valued at $90,000 after purchasing an additional 698 shares during the period. GAMMA Investing LLC raised its holdings in shares of Harmony Biosciences by 222.9% in the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $97,000 after buying an additional 2,022 shares in the last quarter. Finally, Virtus Investment Advisers Inc. bought a new position in shares of Harmony Biosciences during the 4th quarter worth approximately $124,000. Institutional investors and hedge funds own 86.23% of the company's stock.

Harmony Biosciences Stock Down 2.2%

Shares of NASDAQ:HRMY traded down $0.78 during midday trading on Friday, hitting $34.40. The stock had a trading volume of 726,870 shares, compared to its average volume of 569,685. The company has a quick ratio of 3.63, a current ratio of 3.67 and a debt-to-equity ratio of 0.22. The business's 50-day simple moving average is $34.09 and its 200-day simple moving average is $33.98. Harmony Biosciences Holdings, Inc. has a 12 month low of $26.47 and a 12 month high of $41.61. The company has a market cap of $1.98 billion, a P/E ratio of 13.13, a PEG ratio of 0.48 and a beta of 0.84.

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

Analysts Set New Price Targets

HRMY has been the subject of several recent analyst reports. HC Wainwright reiterated a "buy" rating and set a $70.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $55.00 price target (up previously from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. UBS Group decreased their price target on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $49.00 target price on shares of Harmony Biosciences in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group started coverage on shares of Harmony Biosciences in a research note on Thursday, July 10th. They issued a "neutral" rating and a $33.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $51.00.

Harmony Biosciences 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.