VIRGINIA RETIREMENT SYSTEMS ET Al Takes $1.66 Million Position in Harmony Biosciences Holdings, Inc. $HRMY

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 45,482 shares of the company’s stock, valued at approximately $1,656,000.

Several other large investors have also recently added to or reduced their stakes in HRMY. BlackRock Inc. bought a new stake in Harmony Biosciences during the 2nd quarter valued at $258,583,000. California State Teachers Retirement System grew its stake in shares of Harmony Biosciences by 3,455.0% in the second quarter. California State Teachers Retirement System now owns 2,059,313 shares of the company’s stock worth $74,980,000 after purchasing an additional 2,001,385 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Harmony Biosciences by 109.9% in the first quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after purchasing an additional 1,056,507 shares in the last quarter. Armistice Capital LLC acquired a new position in shares of Harmony Biosciences during the fourth quarter valued at $18,710,000. Finally, venBio Partners LLC acquired a new position in shares of Harmony Biosciences during the second quarter valued at $17,192,584. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HRMY. Truist Financial upped their price objective on shares of Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a report on Wednesday, August 5th. Needham & Company LLC boosted their price target on shares of Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Mizuho raised their price objective on Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Wolfe Research assumed coverage on Harmony Biosciences in a report on Wednesday, August 26th. They issued an “outperform” rating and a $60.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Harmony Biosciences currently has a consensus rating of “Hold” and a consensus target price of $47.11.

Harmony Biosciences Stock Performance

Harmony Biosciences stock opened at $41.52 on Friday. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $43.49. The firm’s 50 day simple moving average is $38.12 and its 200-day simple moving average is $33.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.48 and a quick ratio of 3.45. The company has a market cap of $2.42 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 0.38 and a beta of 0.93.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The business had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. As a group, equities research analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current year.

Insider Activity

In other news, insider Kumar Budur sold 28,454 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $42.96, for a total value of $1,222,383.84. Following the completion of the sale, the insider owned 13,115 shares in the company, valued at $563,420.40. This represents a 68.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.00% of the stock is owned by insiders.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial-stage pharmaceutical company focused on developing and commercializing therapies for patients with rare neurological disorders. The company was founded in 2017 and is headquartered in Plymouth Meeting, Pennsylvania, with an emphasis on conditions that are often underserved by traditional pharmaceutical research.

Harmony’s principal product is WAKIX (pitolisant), a first-in-class histamine H3 receptor antagonist/inverse agonist approved by the U.S.