Harmony Biosciences Holdings, Inc. $HRMY Shares Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 66.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 75,882 shares of the company’s stock after buying an additional 30,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.13% of Harmony Biosciences worth $2,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its position in Harmony Biosciences by 166.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 816 shares of the company’s stock valued at $32,000 after acquiring an additional 510 shares in the last quarter. Nykredit A S purchased a new position in shares of Harmony Biosciences during the 2nd quarter worth approximately $33,000. Integrated Wealth Concepts LLC bought a new position in shares of Harmony Biosciences in the 2nd quarter worth approximately $65,000. Signaturefd LLC raised its position in shares of Harmony Biosciences by 200.0% in the 3rd quarter. Signaturefd LLC now owns 1,686 shares of the company’s stock worth $66,000 after acquiring an additional 1,124 shares in the last quarter. Finally, Allworth Financial LP bought a new position in shares of Harmony Biosciences in the 2nd quarter worth approximately $71,000. 86.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Kumar Budur sold 35,852 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $43.05, for a total transaction of $1,543,428.60. Following the completion of the transaction, the insider owned 13,115 shares of the company’s stock, valued at $564,600.75. This trade represents a 73.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 72,406 shares of company stock worth $3,108,520. 11.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on HRMY. Mizuho set a $49.00 price target on Harmony Biosciences in a research report on Thursday. WBB Securities upgraded Harmony Biosciences to a “hold” rating in a report on Friday, October 23rd. Weiss Ratings raised Harmony Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, October 12th. LADENBURG THALM/SH SH began coverage on shares of Harmony Biosciences in a report on Thursday, October 15th. They set a “buy” rating and a $55.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Harmony Biosciences in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Harmony Biosciences Price Performance

Shares of NASDAQ HRMY opened at $37.91 on Tuesday. The company has a 50 day simple moving average of $39.76 and a two-hundred day simple moving average of $34.74. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.90 and a fifty-two week high of $43.49. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 0.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.32. The firm had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 EPS. Analysts expect that Harmony Biosciences Holdings, Inc. will post 3.73 EPS for the current fiscal 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.