SteelPeak Wealth LLC Invests $448,000 in Harmony Biosciences Holdings, Inc. $HRMY

SteelPeak Wealth LLC acquired a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,000 shares of the company’s stock, valued at approximately $448,000.

Several other institutional investors have also recently added to or reduced their stakes in HRMY. Amundi boosted its stake in Harmony Biosciences by 115.6% in the 1st quarter. Amundi now owns 39,668 shares of the company’s stock worth $1,229,000 after buying an additional 21,266 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Harmony Biosciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock worth $752,000 after acquiring an additional 984 shares during the period. Empowered Funds LLC purchased a new position in shares of Harmony Biosciences during the 1st quarter worth about $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Harmony Biosciences by 53.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company’s stock worth $3,166,000 after acquiring an additional 33,058 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Harmony Biosciences by 9.8% in the second quarter. Cetera Investment Advisers now owns 8,404 shares of the company’s stock worth $266,000 after acquiring an additional 748 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial upped their price target on shares of Harmony Biosciences from $25.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Harmony Biosciences from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Tuesday, June 30th. Weiss Ratings raised Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Finally, Zacks Research raised Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. One 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Harmony Biosciences Price Performance

HRMY opened at $33.77 on Friday. The company has a quick ratio of 3.56, a current ratio of 3.58 and a debt-to-equity ratio of 0.15. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $40.87. The company has a 50 day moving average of $33.46 and a two-hundred day moving average of $32.71. The company has a market cap of $1.96 billion, a P/E ratio of 13.62, a P/E/G ratio of 0.32 and a beta of 0.94.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). The business had revenue of $215.39 million during the quarter, compared to analysts’ expectations of $220.84 million. Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 EPS. On average, analysts expect that Harmony Biosciences Holdings, Inc. will post 3.26 earnings per share for the current year.

Harmony Biosciences 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.