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

Public Sector Pension Investment Board lifted its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 41.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 185,803 shares of the company’s stock after acquiring an additional 54,605 shares during the period. Public Sector Pension Investment Board’s holdings in Harmony Biosciences were worth $5,121,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its position in Harmony Biosciences by 1.2% in the third quarter. Thrivent Financial for Lutherans now owns 28,639 shares of the company’s stock valued at $789,000 after buying an additional 348 shares in the last quarter. Nebula Research & Development LLC boosted its holdings in shares of Harmony Biosciences by 2.0% during the 2nd quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock valued at $550,000 after acquiring an additional 348 shares in the last quarter. Amalgamated Bank grew its position in Harmony Biosciences by 3.8% during the 3rd quarter. Amalgamated Bank now owns 11,328 shares of the company’s stock worth $312,000 after acquiring an additional 417 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Harmony Biosciences by 12.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,466 shares of the company’s stock worth $141,000 after acquiring an additional 479 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in Harmony Biosciences by 1.6% in the 2nd quarter. New York State Teachers Retirement System now owns 32,293 shares of the company’s stock worth $1,020,000 after purchasing an additional 500 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. UBS Group lowered Harmony Biosciences from a “buy” rating to a “neutral” rating and lifted their price target for the company from $43.00 to $46.00 in a research note on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Harmony Biosciences in a research report on Monday, December 29th. Truist Financial decreased their price target on shares of Harmony Biosciences from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Mizuho set a $50.00 price target on shares of Harmony Biosciences in a research note on Thursday. Finally, Wall Street Zen raised shares of Harmony Biosciences from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Harmony Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $46.13.

Harmony Biosciences Stock Performance

NASDAQ:HRMY opened at $34.39 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.72 and a current ratio of 3.75. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $40.87. The company has a 50 day simple moving average of $37.25 and a two-hundred day simple moving average of $34.34. The company has a market capitalization of $1.98 billion, a PE ratio of 10.81, a P/E/G ratio of 0.33 and a beta of 0.84.

Insiders Place Their Bets

In other Harmony Biosciences news, CFO Sandip Kapadia sold 20,961 shares of the stock in a transaction dated Thursday, January 15th. The stock was 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey M. Dayno sold 25,933 shares of Harmony Biosciences stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $40.11, for a total value of $1,040,172.63. The SEC filing for this sale provides additional information. Insiders have sold 50,640 shares of company stock valued at $1,932,256 in the last three months. 23.60% of the stock is owned by insiders.

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.