Arizona State Retirement System Has $298,000 Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Arizona State Retirement System decreased its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 9.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,225 shares of the company’s stock after selling 1,017 shares during the period. Arizona State Retirement System’s holdings in Harmony Biosciences were worth $298,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its stake in Harmony Biosciences by 95.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,533 shares of the company’s stock worth $50,000 after purchasing an additional 748 shares during the period. Lazard Asset Management LLC bought a new position in shares of Harmony Biosciences during the 2nd quarter worth approximately $61,000. State of Wyoming boosted its stake in Harmony Biosciences by 91.6% in the 4th quarter. State of Wyoming now owns 1,462 shares of the company’s stock valued at $81,000 after buying an additional 699 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Harmony Biosciences by 290.7% in the third quarter. Tower Research Capital LLC TRC now owns 2,571 shares of the company’s stock valued at $84,000 after acquiring an additional 1,913 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in Harmony Biosciences by 38.5% during the second quarter. Ameritas Investment Partners Inc. now owns 2,724 shares of the company’s stock worth $96,000 after acquiring an additional 757 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on HRMY. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $49.00 target price on shares of Harmony Biosciences in a report on Friday, April 12th. Mizuho dropped their price objective on shares of Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. The Goldman Sachs Group lifted their target price on shares of Harmony Biosciences from $25.00 to $28.00 and gave the company a “sell” rating in a research note on Tuesday, January 9th. Bank of America restated an “underperform” rating and set a $30.00 price target on shares of Harmony Biosciences in a research report on Tuesday, January 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.63.

Harmony Biosciences Stock Up 1.3 %

Shares of HRMY opened at $29.40 on Friday. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.41 and a beta of 0.73. Harmony Biosciences Holdings, Inc. has a 52 week low of $18.61 and a 52 week high of $39.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.72 and a current ratio of 2.75. The business’s fifty day moving average price is $31.86 and its two-hundred day moving average price is $30.07.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.29). Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The firm had revenue of $168.40 million during the quarter, compared to analyst estimates of $168.90 million. During the same quarter in the previous year, the business earned $1.01 earnings per share. Harmony Biosciences’s revenue for the quarter was up 31.3% compared to the same quarter last year. On average, analysts predict that Harmony Biosciences Holdings, Inc. will post 3 earnings per share for the current year.

Insider Buying and Selling

In other Harmony Biosciences news, insider Jeffrey Dierks sold 11,979 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $32.00, for a total value of $383,328.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 28.40% of the stock is currently owned by insiders.

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.