State of New Jersey Common Pension Fund D Makes New Investment in Harmony Biosciences Holdings, Inc. $HRMY

State of New Jersey Common Pension Fund D bought a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 57,041 shares of the company’s stock, valued at approximately $1,572,000. State of New Jersey Common Pension Fund D owned approximately 0.10% of Harmony Biosciences as of its most recent SEC filing.

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

Harmony Biosciences News Roundup

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

Harmony Biosciences Trading Up 3.1%

Shares of NASDAQ HRMY opened at $29.05 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.72 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.68 billion, a PE ratio of 10.72, a PEG ratio of 0.39 and a beta of 0.84. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $40.87. The stock has a fifty day simple moving average of $36.19 and a 200-day simple moving average of $34.12.

Harmony Biosciences (NASDAQ:HRMY) last announced 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). The firm had revenue of $243.78 million for the quarter, compared to analysts’ expectations of $240.04 million. Harmony Biosciences had a net margin of 18.29% and a return on equity of 19.86%. The business’s revenue was up 21.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 earnings per share. On average, equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Sandip Kapadia sold 20,961 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $35.92, for a total transaction of $752,919.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey M. Dayno sold 25,933 shares of the stock in a transaction that occurred 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 disclosure for this sale is available in the SEC filing. Insiders sold 50,640 shares of company stock valued at $1,932,256 in the last 90 days. Company insiders own 23.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HRMY shares. Bank of America decreased their price objective on Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating on the stock in a report on Wednesday. Wall Street Zen upgraded Harmony Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Zacks Research upgraded Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Mizuho set a $50.00 price objective on Harmony Biosciences in a research report on Thursday, February 19th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.67.

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.