Harmony Biosciences Holdings, Inc. $HRMY Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 74.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,728 shares of the company’s stock after selling 42,313 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Harmony Biosciences were worth $551,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board increased its stake in shares of Harmony Biosciences by 41.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 185,803 shares of the company’s stock valued at $5,121,000 after acquiring an additional 54,605 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Harmony Biosciences by 39.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 234,779 shares of the company’s stock worth $6,471,000 after acquiring an additional 66,236 shares during the last quarter. American Century Companies Inc. grew its holdings in Harmony Biosciences by 11.2% in the third quarter. American Century Companies Inc. now owns 1,669,565 shares of the company’s stock valued at $46,013,000 after purchasing an additional 168,145 shares during the period. LSV Asset Management grew its holdings in Harmony Biosciences by 7.1% in the third quarter. LSV Asset Management now owns 1,594,893 shares of the company’s stock valued at $43,955,000 after purchasing an additional 106,391 shares during the period. Finally, Ruffer LLP acquired a new position in Harmony Biosciences during the fourth quarter worth approximately $1,536,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HRMY has been the topic of a number of recent analyst reports. Mizuho set a $50.00 price target on shares of Harmony Biosciences in a research note on Thursday, February 19th. Weiss Ratings lowered Harmony Biosciences from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a report on Wednesday, February 25th. Needham & Company LLC dropped their price target on Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft downgraded Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.89.

Harmony Biosciences Stock Performance

NASDAQ:HRMY opened at $30.18 on Tuesday. The firm’s fifty day simple moving average is $29.09 and its 200 day simple moving average is $33.10. The company has a current ratio of 3.58, a quick ratio of 3.56 and a debt-to-equity ratio of 0.15. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $40.87. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.43 and a beta of 0.97.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.21). The company had revenue of $215.39 million during the quarter, compared to analysts’ expectations of $220.84 million. Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the business earned $0.78 earnings per share. As a group, equities research analysts expect that Harmony Biosciences Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

About Harmony Biosciences

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.