SEB Asset Management AB Invests $1.14 Million in Harmony Biosciences Holdings, Inc. $HRMY

SEB Asset Management AB purchased a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 40,532 shares of the company’s stock, valued at approximately $1,135,000.

Several other hedge funds also recently modified their holdings of HRMY. Financiere des Professionnels Fonds d investissement inc. bought a new position in Harmony Biosciences in the first quarter valued at about $294,000. SteelPeak Wealth LLC bought a new stake in shares of Harmony Biosciences during the first quarter worth about $448,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Harmony Biosciences by 750.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 176,219 shares of the company’s stock worth $4,927,000 after purchasing an additional 155,494 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Harmony Biosciences by 3.8% in the first quarter. Illinois Municipal Retirement Fund now owns 20,020 shares of the company’s stock valued at $561,000 after buying an additional 727 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in shares of Harmony Biosciences in the first quarter valued at approximately $1,030,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Stock Up 2.7%

Harmony Biosciences stock opened at $35.80 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $40.87. The firm has a 50 day moving average price of $33.85 and a two-hundred day moving average price of $32.61. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.32 and a beta of 0.94.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.21). Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The firm had revenue of $215.39 million during the quarter, compared to the consensus estimate of $220.84 million. During the same period in the prior year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts predict that Harmony Biosciences Holdings, Inc. will post 3.3 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on HRMY shares. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of Harmony Biosciences in a research report on Thursday, July 16th. Truist Financial upped their price target on shares of Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Zacks Research raised shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings raised shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.