Arizona State Retirement System Acquires 2,530 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Arizona State Retirement System raised its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 28.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,524 shares of the company’s stock after purchasing an additional 2,530 shares during the period. Arizona State Retirement System’s holdings in Harmony Biosciences were worth $397,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after purchasing an additional 436 shares during the last quarter. New York State Teachers Retirement System grew its holdings in 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 valued at $1,091,000 after purchasing an additional 809 shares during the last quarter. KBC Group NV grew its holdings in Harmony Biosciences by 79.9% during the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after purchasing an additional 819 shares during the last quarter. Hedeker Wealth LLC grew its holdings in Harmony Biosciences by 1.2% during the fourth quarter. Hedeker Wealth LLC now owns 76,203 shares of the company’s stock valued at $2,622,000 after purchasing an additional 916 shares during the last quarter. Finally, Mendota Financial Group LLC grew its holdings in Harmony Biosciences by 24,125.0% during the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after purchasing an additional 965 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on HRMY. HC Wainwright lowered their price target on Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Mizuho lowered their price objective on shares of Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft started coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, February 25th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Harmony Biosciences presently has an average rating of “Buy” and a consensus target price of $53.11.

Insiders Place Their Bets

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

Harmony Biosciences Price Performance

HRMY opened at $32.72 on Friday. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $28.14 and a fifty-two week high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The firm’s fifty day moving average price is $36.40 and its two-hundred day moving average price is $35.63. The company has a market capitalization of $1.88 billion, a P/E ratio of 15.51, a P/E/G ratio of 0.47 and a beta of 0.82.

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

Harmony Biosciences Company 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.