New York State Common Retirement Fund Purchases 14,406 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

New York State Common Retirement Fund boosted its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 30.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,878 shares of the company’s stock after purchasing an additional 14,406 shares during the quarter. New York State Common Retirement Fund owned approximately 0.11% of Harmony Biosciences worth $2,129,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in 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 in the last quarter. Mendota Financial Group LLC raised its holdings in Harmony Biosciences by 24,125.0% in the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after purchasing an additional 965 shares in the last quarter. KBC Group NV raised its holdings in Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after purchasing an additional 819 shares in the last quarter. Quantbot Technologies LP bought a new position in Harmony Biosciences in the third quarter worth $74,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Harmony Biosciences by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $80,000 after acquiring an additional 360 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Trading Up 3.4 %

Harmony Biosciences stock opened at $33.85 on Friday. 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 one year low of $28.14 and a one year high of $41.61. The stock has a market capitalization of $1.94 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The business’s fifty day moving average is $36.63 and its 200 day moving average is $35.79.

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

Insiders Place Their Bets

In other news, CFO Sandip Kapadia sold 25,000 shares of the firm’s stock in a transaction dated 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 at the SEC website. Also, insider Jeffrey Dierks sold 10,507 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was 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. Over the last three months, insiders have sold 72,452 shares of company stock valued at $2,831,679. Insiders own 30.80% of the company’s stock.

Wall Street Analysts Forecast Growth

HRMY has been the topic of a number of recent research reports. 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 note on Thursday. Mizuho cut their target price on Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft initiated 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday, February 25th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Harmony Biosciences currently has an average rating of “Buy” and a consensus target price of $53.11.

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.