Public Sector Pension Investment Board Buys 54,605 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Public Sector Pension Investment Board raised its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 41.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 185,803 shares of the company’s stock after purchasing an additional 54,605 shares during the period. Public Sector Pension Investment Board owned 0.32% of Harmony Biosciences worth $5,121,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Parkside Financial Bank & Trust grew its stake in Harmony Biosciences by 4,185.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock valued at $37,000 after buying an additional 1,130 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Harmony Biosciences by 338.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,511 shares of the company’s stock valued at $111,000 after purchasing an additional 2,711 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Harmony Biosciences in the second quarter valued at approximately $120,000. Ameritas Investment Partners Inc. increased its stake in shares of Harmony Biosciences by 12.0% during the second quarter. Ameritas Investment Partners Inc. now owns 4,466 shares of the company’s stock worth $141,000 after purchasing an additional 479 shares during the period. Finally, EMC Capital Management acquired a new stake in Harmony Biosciences during the 2nd quarter worth approximately $195,000. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Trading Down 2.5%

Shares of Harmony Biosciences stock opened at $34.39 on Friday. The company has a quick ratio of 3.72, a current ratio of 3.75 and a debt-to-equity ratio of 0.18. Harmony Biosciences Holdings, Inc. has a 12-month low of $25.52 and a 12-month high of $40.87. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 0.33 and a beta of 0.84. The firm’s 50-day moving average price is $37.25 and its two-hundred day moving average price is $34.34.

Analysts Set New Price Targets

HRMY has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating on shares of Harmony Biosciences in a research report on Wednesday, December 3rd. Needham & Company LLC restated a “buy” rating and issued a $42.00 price target on shares of Harmony Biosciences in a research note on Monday, November 24th. Oppenheimer reiterated an “outperform” rating and issued a $62.00 price objective on shares of Harmony Biosciences in a research note on Monday, November 24th. Wall Street Zen upgraded shares of Harmony Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Mizuho set a $50.00 target price on shares of Harmony Biosciences in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.13.

Insider Activity at Harmony Biosciences

In related news, CEO Jeffrey M. Dayno sold 25,933 shares of Harmony Biosciences stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $40.11, for a total value of $1,040,172.63. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Sandip Kapadia sold 3,746 shares of the company’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $37.15, for a total value of $139,163.90. Following the sale, the chief financial officer owned 24,521 shares of the company’s stock, valued at $910,955.15. The trade was a 13.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 50,640 shares of company stock worth $1,932,256 in the last quarter. 23.60% of the stock is currently owned by company insiders.

Harmony Biosciences Company 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.