State of New Jersey Common Pension Fund D Invests $1.57 Million in Harmony Biosciences Holdings, Inc. $HRMY

State of New Jersey Common Pension Fund D acquired a new position 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 acquired 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 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. LSV Asset Management increased its position in Harmony Biosciences by 7.1% in the third quarter. LSV Asset Management now owns 1,594,893 shares of the company’s stock worth $43,955,000 after buying an additional 106,391 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Harmony Biosciences by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 1,501,420 shares of the company’s stock valued at $47,445,000 after acquiring an additional 212,633 shares during the period. Marshall Wace LLP increased its holdings in Harmony Biosciences by 36.3% in the 2nd quarter. Marshall Wace LLP now owns 1,209,484 shares of the company’s stock worth $38,220,000 after acquiring an additional 321,947 shares in the last quarter. Geode Capital Management LLC raised its stake in Harmony Biosciences by 9.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,054,348 shares of the company’s stock worth $33,321,000 after acquiring an additional 88,598 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Harmony Biosciences by 127.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company’s stock worth $28,658,000 after acquiring an additional 508,498 shares during the period. 86.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on HRMY. Zacks Research upgraded shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 target price on shares of Harmony Biosciences in a report on Wednesday. Truist Financial lowered Harmony Biosciences from a “buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft cut Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a report on Monday. Finally, UBS Group dropped their price objective on Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Harmony Biosciences has a consensus rating of “Moderate Buy” and an average price target of $42.67.

Insider Buying and Selling

In related news, CEO Jeffrey M. Dayno sold 25,933 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $40.11, for a total transaction of $1,040,172.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandip Kapadia sold 20,961 shares of the stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $35.92, for a total transaction of $752,919.12. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 50,640 shares of company stock valued at $1,932,256 over the last quarter. Corporate insiders own 23.60% of the company’s stock.

Harmony Biosciences Stock Up 3.1%

HRMY opened at $29.05 on Friday. The company has a market capitalization of $1.68 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 0.39 and a beta of 0.84. The firm has a 50-day simple moving average of $36.19 and a two-hundred day simple moving average of $34.12. The company has a quick ratio of 3.72, a current ratio of 3.60 and a debt-to-equity ratio of 0.17. Harmony Biosciences Holdings, Inc. has a 52 week low of $25.52 and a 52 week high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.46). Harmony Biosciences had a return on equity of 19.86% and a net margin of 18.29%.The firm had revenue of $243.78 million during the quarter, compared to the consensus estimate of $240.04 million. During the same period last year, the firm posted $0.85 earnings per share. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. Analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

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 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.