Louisiana State Employees Retirement System Cuts Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Louisiana State Employees Retirement System lowered its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,600 shares of the company’s stock after selling 1,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Harmony Biosciences were worth $584,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Texas Permanent School Fund Corp grew its stake in Harmony Biosciences by 1.8% in the first quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock valued at $964,000 after purchasing an additional 517 shares during the last quarter. ProShare Advisors LLC grew its stake in Harmony Biosciences by 7.0% in the first quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock valued at $352,000 after purchasing an additional 684 shares during the last quarter. Profund Advisors LLC grew its stake in Harmony Biosciences by 11.1% in the second quarter. Profund Advisors LLC now owns 7,557 shares of the company’s stock valued at $228,000 after purchasing an additional 758 shares during the last quarter. CWM LLC grew its stake in Harmony Biosciences by 111.7% in the third quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after purchasing an additional 775 shares during the last quarter. Finally, Summit Global Investments grew its stake in Harmony Biosciences by 4.2% in the second quarter. Summit Global Investments now owns 20,164 shares of the company’s stock valued at $608,000 after purchasing an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total value of $869,943.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 30.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on HRMY shares. Raymond James reiterated an “outperform” rating and issued a $40.00 target price on shares of Harmony Biosciences in a research note on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a report on Tuesday, October 29th. Oppenheimer reissued an “outperform” rating and issued a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Cantor Fitzgerald raised their price target on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, UBS Group started coverage on Harmony Biosciences in a report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price target for the company. Two investment analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Harmony Biosciences Trading Up 1.1 %

Harmony Biosciences stock opened at $33.41 on Wednesday. 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 $22.89 and a 52 week high of $41.61. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 0.62 and a beta of 0.77. The stock has a 50-day moving average price of $36.19 and a 200 day moving average price of $33.23.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, October 29th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm had revenue of $186.00 million during the quarter, compared to the consensus estimate of $184.07 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue was up 16.0% compared to the same quarter last year. Sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.34 EPS for the current year.

Harmony Biosciences 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.