Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Purchased by Corebridge Financial Inc.

Corebridge Financial Inc. raised its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 17.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 20,296 shares of the company’s stock after purchasing an additional 2,966 shares during the quarter. Corebridge Financial Inc.’s holdings in Harmony Biosciences were worth $698,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HRMY. Hillsdale Investment Management Inc. raised its holdings in Harmony Biosciences by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 68,000 shares of the company’s stock valued at $2,340,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after purchasing an additional 436 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Harmony Biosciences by 28.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock worth $80,000 after purchasing an additional 519 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Harmony Biosciences by 2.6% during the fourth quarter. New York State Teachers Retirement System now owns 31,693 shares of the company’s stock worth $1,091,000 after purchasing an additional 809 shares in the last quarter. Finally, KBC Group NV increased its holdings in Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after buying an additional 819 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

HRMY has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Harmony Biosciences in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price target for the company. HC Wainwright cut their price objective on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Mizuho upped their target price on shares of Harmony Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Tuesday, March 18th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $53.33.

Harmony Biosciences Price Performance

HRMY stock opened at $29.26 on Monday. The business has a 50 day simple moving average of $35.30 and a 200-day simple moving average of $35.23. The company has a market capitalization of $1.68 billion, a P/E ratio of 13.87, a PEG ratio of 0.47 and a beta of 0.80. Harmony Biosciences Holdings, Inc. has a twelve month low of $28.14 and a twelve month high of $41.61. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The firm had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. As a group, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Insider Activity at Harmony Biosciences

In related news, CFO Sandip Kapadia sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total value of $1,004,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Dierks sold 1,123 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. The disclosure for this sale can be found here. Insiders sold a total of 72,452 shares of company stock worth $2,831,679 over the last 90 days. Company insiders own 30.80% of the company’s stock.

About Harmony Biosciences

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.