Teacher Retirement System of Texas Purchases 3,964 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Teacher Retirement System of Texas boosted its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 50.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,801 shares of the company’s stock after acquiring an additional 3,964 shares during the period. Teacher Retirement System of Texas’ holdings in Harmony Biosciences were worth $406,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HRMY. GAMMA Investing LLC grew its stake in shares of Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after purchasing an additional 436 shares during the last quarter. Mendota Financial Group LLC raised its position in Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after purchasing an additional 965 shares during the last quarter. KBC Group NV lifted its holdings in Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after buying an additional 819 shares during the period. Quantbot Technologies LP bought a new stake in shares of Harmony Biosciences in the 3rd quarter worth approximately $74,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Harmony Biosciences by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock valued at $80,000 after buying an additional 519 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Insider Buying and Selling

In other news, CFO Sandip Kapadia sold 1,775 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $38.05, for a total value of $67,538.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Dierks sold 10,507 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $37.01, for a total value of $388,864.07. The disclosure for this sale can be found here. Insiders have sold a total of 72,452 shares of company stock worth $2,831,679 in the last quarter. Corporate insiders own 30.80% of the company’s stock.

Harmony Biosciences Price Performance

Shares of HRMY opened at $33.19 on Tuesday. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $28.14 and a fifty-two week high of $41.61. The firm’s 50-day simple moving average is $35.90 and its two-hundred day simple moving average is $35.44. The stock has a market cap of $1.90 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

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

Wall Street Analysts Forecast Growth

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

About Harmony Biosciences

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.