Harmony Biosciences Holdings, Inc. $HRMY Stock Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 66.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 75,882 shares of the company’s stock after acquiring an additional 30,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Harmony Biosciences were worth $2,979,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Harmony Biosciences during the second quarter valued at approximately $258,583,000. Dimensional Fund Advisors LP raised its holdings in Harmony Biosciences by 13.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company’s stock worth $58,157,000 after acquiring an additional 245,784 shares during the last quarter. Renaissance Technologies LLC lifted its position in Harmony Biosciences by 0.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,077,371 shares of the company’s stock valued at $30,177,000 after acquiring an additional 6,900 shares in the last quarter. venBio Partners LLC bought a new position in Harmony Biosciences in the 2nd quarter valued at approximately $17,192,584. Finally, Pacer Advisors Inc. lifted its position in Harmony Biosciences by 9.7% in the 1st quarter. Pacer Advisors Inc. now owns 318,527 shares of the company’s stock valued at $8,922,000 after acquiring an additional 28,174 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

HRMY has been the subject of a number of research analyst reports. Oppenheimer reissued an “outperform” rating on shares of Harmony Biosciences in a report on Thursday, September 24th. Mizuho set a $49.00 price target on Harmony Biosciences in a research note on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $42.00 price target on shares of Harmony Biosciences in a report on Thursday, October 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a research report on Monday, October 19th. Finally, WBB Securities upgraded Harmony Biosciences to a “hold” rating in a report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.00.

Insider Buying and Selling

In other Harmony Biosciences news, insider Kumar Budur sold 35,852 shares of Harmony Biosciences stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $43.05, for a total value of $1,543,428.60. Following the completion of the sale, the insider owned 13,115 shares of the company’s stock, valued at approximately $564,600.75. The trade was a 73.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 72,406 shares of company stock valued at $3,108,520. Insiders own 11.00% of the company’s stock.

Harmony Biosciences Stock Down 2.2%

HRMY opened at $37.91 on Tuesday. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $39.76 and a 200-day moving average price of $34.74. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.90 and a twelve month high of $43.49. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 0.31 and a beta of 1.01.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The company had revenue of $261.28 million for the quarter, compared to the consensus estimate of $250.77 million. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. Equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.73 earnings per share for the current year.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial-stage biopharmaceutical company focused on developing and providing therapies for patients with rare neurological disorders. The company’s activities center on conditions involving sleep-wake regulation and other central nervous system disorders where treatment options may be limited.

Harmony’s principal product is WAKIX (pitolisant), an oral, non-scheduled treatment that acts as a histamine-3 receptor antagonist/inverse agonist. In the United States, WAKIX is approved for the treatment of excessive daytime sleepiness or cataplexy in adults with narcolepsy and for excessive daytime sleepiness in pediatric patients aged 6 and older with narcolepsy.