Louisiana State Employees Retirement System Purchases New Shares in Harmony Biosciences Holdings, Inc. $HRMY

Louisiana State Employees Retirement System acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,600 shares of the company’s stock, valued at approximately $493,000.

A number of other institutional investors have also added to or reduced their stakes in HRMY. SG Americas Securities LLC increased its stake in shares of Harmony Biosciences by 109.9% in the 1st quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after acquiring an additional 1,056,507 shares in the last quarter. Armistice Capital LLC bought a new stake in Harmony Biosciences during the fourth quarter worth about $18,710,000. AQR Capital Management LLC boosted its stake in Harmony Biosciences by 128.9% during the fourth quarter. AQR Capital Management LLC now owns 813,889 shares of the company’s stock worth $30,456,000 after acquiring an additional 458,321 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Harmony Biosciences by 42.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company’s stock worth $35,701,000 after purchasing an additional 388,472 shares during the period. Finally, UBS Group AG grew its holdings in Harmony Biosciences by 213.3% in the third quarter. UBS Group AG now owns 503,081 shares of the company’s stock worth $13,865,000 after purchasing an additional 342,505 shares during the period. Institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HRMY shares. Truist Financial lifted their target price on shares of Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a report on Friday, May 8th. Zacks Research upgraded Harmony Biosciences from a “strong sell” rating to a “hold” rating in a research note on Friday, May 1st. HC Wainwright reaffirmed a “buy” rating on shares of Harmony Biosciences in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Harmony Biosciences from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings raised Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $41.44.

Harmony Biosciences Stock Down 0.5%

NASDAQ:HRMY opened at $38.08 on Thursday. The firm has a market cap of $2.20 billion, a P/E ratio of 15.35, a P/E/G ratio of 0.36 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $40.87. The firm has a 50-day simple moving average of $32.93 and a two-hundred day simple moving average of $32.81.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The firm had revenue of $215.39 million during the quarter, compared to the consensus estimate of $220.84 million. During the same quarter in the prior year, the company posted $0.78 EPS. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Analysts predict that Harmony Biosciences Holdings, Inc. will post 3.26 earnings per share 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.