Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Shares Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lifted its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 26.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,500 shares of the company’s stock after acquiring an additional 3,900 shares during the period. Louisiana State Employees Retirement System’s holdings in Harmony Biosciences were worth $637,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Citigroup Inc. raised its position in shares of Harmony Biosciences by 9.8% during the 3rd quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock worth $7,114,000 after acquiring an additional 15,859 shares in the last quarter. HighTower Advisors LLC increased its position in Harmony Biosciences by 364.0% during the third quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock worth $3,199,000 after buying an additional 62,729 shares during the period. Quest Partners LLC increased its position in Harmony Biosciences by 137.6% during the third quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock worth $1,429,000 after buying an additional 20,689 shares during the period. JPMorgan Chase & Co. increased its position in Harmony Biosciences by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock worth $9,217,000 after buying an additional 93,622 shares during the period. Finally, CWA Asset Management Group LLC acquired a new position in Harmony Biosciences during the third quarter worth approximately $576,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on HRMY. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price target on shares of Harmony Biosciences in a research report on Monday, January 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target on shares of Harmony Biosciences in a research report on Monday, January 13th. Cantor Fitzgerald lifted their price target on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and set a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $55.00.

Insider Activity at Harmony Biosciences

In related news, CFO Sandip Kapadia sold 25,000 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total value of $1,004,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey M. Dayno sold 19,293 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total value of $774,228.09. 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 over the last three months. 30.80% of the stock is currently owned by corporate insiders.

Harmony Biosciences Stock Up 0.3 %

Harmony Biosciences stock opened at $39.09 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. Harmony Biosciences Holdings, Inc. has a 1-year low of $28.14 and a 1-year high of $41.61. The company has a market cap of $2.23 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.51 and a beta of 0.80. The stock’s 50 day moving average price is $36.28 and its 200 day moving average price is $35.71.

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.