Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 26.7% in the fourth quarter, Holdings Channel reports. The fund owned 8,157 shares of the company’s stock after purchasing an additional 1,718 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Harmony Biosciences were worth $281,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Harmony Biosciences during the 3rd quarter worth approximately $359,000. Intech Investment Management LLC purchased a new position in Harmony Biosciences in the third quarter worth approximately $388,000. Citigroup Inc. increased its stake in Harmony Biosciences by 9.8% during the third quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock worth $7,114,000 after acquiring an additional 15,859 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Harmony Biosciences in the third quarter valued at $74,000. Finally, Martingale Asset Management L P lifted its stake in shares of Harmony Biosciences by 75.3% in the 3rd quarter. Martingale Asset Management L P now owns 34,783 shares of the company’s stock valued at $1,391,000 after purchasing an additional 14,946 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HRMY. Mizuho raised their price objective on Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 18th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Harmony Biosciences in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective for the company. Finally, HC Wainwright cut their target price on Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $53.33.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $33.35 on Friday. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a 52-week low of $28.14 and a 52-week high of $41.61. The firm has a market cap of $1.91 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The company’s 50 day moving average is $36.13 and its two-hundred day moving average is $35.52.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business had revenue of $201.30 million for the quarter, compared to analysts’ expectations of $201.25 million. During the same period last year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 1,629 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $38.02, for a total value of $61,934.58. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sandip Kapadia sold 25,000 shares of Harmony Biosciences stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total transaction of $1,004,500.00. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock valued at $2,831,679 in the last quarter. Corporate insiders own 30.80% of the company’s stock.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.