State of New Jersey Common Pension Fund D Acquires Shares of 57,041 Harmony Biosciences Holdings, Inc. $HRMY

State of New Jersey Common Pension Fund D bought a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the third quarter, HoldingsChannel reports. The firm bought 57,041 shares of the company’s stock, valued at approximately $1,572,000.

Other large investors have also recently modified their holdings of the company. Amundi boosted its stake in Harmony Biosciences by 115.6% during the first quarter. Amundi now owns 39,668 shares of the company’s stock worth $1,229,000 after buying an additional 21,266 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Harmony Biosciences by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock worth $752,000 after acquiring an additional 984 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Harmony Biosciences during the 1st quarter worth about $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Harmony Biosciences by 53.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company’s stock valued at $3,166,000 after purchasing an additional 33,058 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Harmony Biosciences in the 2nd quarter worth about $1,563,000. Institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

HRMY has been the subject of several recent analyst reports. Bank of America dropped their target price on Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating for the company in a research report on Wednesday. UBS Group dropped their price objective on Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday. Wall Street Zen upgraded Harmony Biosciences from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Zacks Research raised shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Finally, Oppenheimer restated an “outperform” rating and issued a $62.00 price target on shares of Harmony Biosciences in a report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.67.

Harmony Biosciences News Summary

Here are the key news stories impacting Harmony Biosciences this week:

• Positive Sentiment: HC Wainwright reaffirmed its “buy” rating and kept a $55 price target, signaling strong upside from current levels and providing bullish support for long investors. HC Wainwright Reaffirms Buy
• Positive Sentiment: Needham & Company maintained a “buy” rating and a $44 target after a small cut, which keeps another buy-side endorsement in the tape and supports demand from growth-oriented investors. Needham Buy Rating
• Neutral Sentiment: UBS trimmed its price target from $46 to $36 and set a “neutral” rating — a meaningful reduction in upside but not a sell call, which may temper enthusiasm without forcing broad liquidation. UBS Lowers PT to $36
• Neutral Sentiment: An analyst-aggregate report shows an average rating of “Moderate Buy,” indicating mixed but overall constructive analyst sentiment that can limit downside from negative headlines. Analyst Average Rating
• Negative Sentiment: Truist Securities downgraded HRMY to “Hold” after developments in a patent trial, flagging increased legal/competitive risk that could pressure future revenue or margins if adverse outcomes persist. Truist Downgrade After Patent Trial
• Negative Sentiment: Bank of America cut its price target to $28 and moved to an “underperform” rating, which is explicitly bearish and adds selling pressure from institutional accounts that follow BofA coverage. BofA Lowers PT to $28

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 25,933 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $40.11, for a total transaction of $1,040,172.63. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Sandip Kapadia sold 20,961 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $35.92, for a total value of $752,919.12. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 50,640 shares of company stock worth $1,932,256. 23.60% of the stock is currently owned by corporate insiders.

Harmony Biosciences Stock Performance

HRMY stock opened at $29.05 on Friday. Harmony Biosciences Holdings, Inc. has a 1-year low of $25.52 and a 1-year high of $40.87. The business has a 50-day moving average price of $36.19 and a 200 day moving average price of $34.12. The company has a market capitalization of $1.68 billion, a P/E ratio of 10.72, a PEG ratio of 0.39 and a beta of 0.84. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.60 and a quick ratio of 3.72.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, February 24th. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.46). Harmony Biosciences had a net margin of 18.29% and a return on equity of 19.86%. The business had revenue of $243.78 million for the quarter, compared to analysts’ expectations of $240.04 million. During the same period last year, the business posted $0.85 EPS. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. As a group, equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Harmony Biosciences Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.