VIRGINIA RETIREMENT SYSTEMS ET Al Buys 40,200 Shares of Harmony Biosciences Holdings, Inc. $HRMY

VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 394.8% in the fourth quarter, HoldingsChannel reports. The firm owned 50,382 shares of the company’s stock after buying an additional 40,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Harmony Biosciences were worth $1,885,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. National Bank of Canada FI bought a new position in Harmony Biosciences during the 3rd quarter valued at approximately $40,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Harmony Biosciences by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,799 shares of the company’s stock worth $105,000 after buying an additional 575 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Harmony Biosciences by 338.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,511 shares of the company’s stock worth $111,000 after buying an additional 2,711 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Harmony Biosciences in the 2nd quarter worth approximately $120,000. Finally, Magnetar Financial LLC purchased a new stake in Harmony Biosciences during the 3rd quarter valued at $201,000. Institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

HRMY has been the topic of several recent analyst reports. Mizuho set a $50.00 target price on Harmony Biosciences in a research note on Thursday, February 19th. Needham & Company LLC decreased their target price on Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft lowered Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research note on Monday, February 23rd. Zacks Research upgraded Harmony Biosciences from a “strong sell” rating to a “hold” rating in a research note on Friday, May 1st. Finally, UBS Group cut their price objective on Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.89.

Harmony Biosciences Trading Down 2.2%

HRMY opened at $30.09 on Friday. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.52 and a 12 month high of $40.87. The stock has a 50-day moving average of $29.24 and a 200 day moving average of $33.12. The firm has a market cap of $1.74 billion, a P/E ratio of 12.13, a P/E/G ratio of 0.20 and a beta of 0.97. The company has a current ratio of 3.58, a quick ratio of 3.56 and a debt-to-equity ratio of 0.15.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.21). Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The business had revenue of $215.39 million for the quarter, compared to analysts’ expectations of $220.84 million. During the same quarter last year, the firm earned $0.78 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.34 EPS for the current year.

Harmony Biosciences Company 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.