Maryland State Retirement & Pension System Purchases 2,686 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Maryland State Retirement & Pension System grew its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 26.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,858 shares of the company’s stock after buying an additional 2,686 shares during the period. Maryland State Retirement & Pension System’s holdings in Harmony Biosciences were worth $442,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Harmony Biosciences by 92.6% during the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after purchasing an additional 436 shares during the last quarter. Mendota Financial Group LLC grew its position in shares of Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after buying an additional 965 shares during the period. KBC Group NV raised its stake in shares of Harmony Biosciences by 79.9% during the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after buying an additional 819 shares during the last quarter. Quantbot Technologies LP acquired a new position in Harmony Biosciences in the third quarter valued at approximately $74,000. Finally, PNC Financial Services Group Inc. boosted its stake in Harmony Biosciences by 28.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock valued at $80,000 after acquiring an additional 519 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Trading Down 3.7 %

Shares of NASDAQ:HRMY opened at $32.99 on Wednesday. The company’s 50-day moving average price is $36.31 and its two-hundred day moving average price is $35.55. Harmony Biosciences Holdings, Inc. has a one year low of $28.14 and a one year high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The stock has a market capitalization of $1.89 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business had revenue of $201.30 million for the quarter, compared to analyst estimates of $201.25 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. Harmony Biosciences’s revenue was up 19.5% on a year-over-year basis. On average, equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective for the company. Mizuho boosted their target price on Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 18th. HC Wainwright cut their price target on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, February 25th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $53.33.

Insider Buying and Selling

In other news, insider Jeffrey Dierks sold 10,507 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $37.01, for a total transaction of $388,864.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Sandip Kapadia sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total transaction of $1,004,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,452 shares of company stock worth $2,831,679. Insiders own 30.80% of the company’s stock.

Harmony Biosciences Profile

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.