VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 45,482 Harmony Biosciences Holdings, Inc. $HRMY

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 45,482 shares of the company’s stock, valued at approximately $1,656,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.08% of Harmony Biosciences at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of HRMY. BlackRock Inc. acquired a new stake in shares of Harmony Biosciences in the 2nd quarter valued at about $258,583,000. California State Teachers Retirement System grew its stake in 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 increased its holdings in Harmony Biosciences by 109.9% in the first quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock valued at $56,529,000 after buying an additional 1,056,507 shares during the last quarter. Armistice Capital LLC bought a new stake in Harmony Biosciences in the fourth quarter valued at about $18,710,000. Finally, venBio Partners LLC acquired a new stake in Harmony Biosciences during the second quarter valued at approximately $17,192,584. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Up 1.0%

NASDAQ:HRMY opened at $41.52 on Friday. The firm has a market capitalization of $2.42 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.38 and a beta of 0.93. The stock has a 50 day moving average of $38.12 and a 200-day moving average of $33.25. Harmony Biosciences Holdings, Inc. has a 52 week low of $25.52 and a 52 week high of $43.49. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.32. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The business had revenue of $261.28 million for the quarter, compared to the consensus estimate of $250.77 million. During the same quarter last year, the business posted $0.92 EPS. The business’s revenue was up 30.3% on a year-over-year basis. Analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current year.

Wall Street Analyst Weigh In

HRMY has been the topic of a number of research analyst reports. Mizuho increased their target price on Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Wolfe Research assumed coverage on Harmony Biosciences in a research report on Wednesday, August 26th. They set an “outperform” rating and a $60.00 price target on the stock. UBS Group restated a “neutral” rating and set a $37.00 price objective on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Zacks Research downgraded shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Truist Financial boosted their target price on shares of Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a research note on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.11.

Insider Transactions at Harmony Biosciences

In other news, insider Kumar Budur sold 28,454 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $42.96, for a total transaction of $1,222,383.84. Following the completion of the transaction, the insider owned 13,115 shares of the company’s stock, valued at approximately $563,420.40. The trade was a 68.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 11.00% of the company’s stock.

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.