New York State Common Retirement Fund Grows Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

New York State Common Retirement Fund grew its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 61,878 shares of the company's stock after acquiring an additional 14,406 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of Harmony Biosciences worth $2,129,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Citigroup Inc. grew its stake in shares of Harmony Biosciences by 9.8% during the third quarter. Citigroup Inc. now owns 177,843 shares of the company's stock worth $7,114,000 after buying an additional 15,859 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Harmony Biosciences by 364.0% during the 3rd quarter. HighTower Advisors LLC now owns 79,961 shares of the company's stock valued at $3,199,000 after acquiring an additional 62,729 shares during the period. Quest Partners LLC increased its stake in Harmony Biosciences by 137.6% in the third quarter. Quest Partners LLC now owns 35,723 shares of the company's stock valued at $1,429,000 after purchasing an additional 20,689 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Harmony Biosciences by 68.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company's stock worth $9,217,000 after purchasing an additional 93,622 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of Harmony Biosciences in the 3rd quarter worth $576,000. 86.23% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Jeffrey Dierks sold 1,123 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total value of $44,920.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sandip Kapadia sold 25,000 shares of the business's stock in a transaction on 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. Insiders have sold a total of 72,452 shares of company stock valued at $2,831,679 in the last 90 days. 30.80% of the stock is currently owned by insiders.

Harmony Biosciences Stock Down 4.9 %

Shares of NASDAQ:HRMY traded down $1.67 during trading on Monday, reaching $32.18. 747,426 shares of the stock traded hands, compared to its average volume of 644,598. Harmony Biosciences Holdings, Inc. has a 52-week low of $28.14 and a 52-week high of $41.61. The stock has a market cap of $1.85 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The stock has a 50-day moving average of $36.63 and a two-hundred day moving average of $35.81. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share 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 firm had revenue of $201.30 million during the quarter, compared to analysts' expectations of $201.25 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The company's revenue was up 19.5% on a year-over-year basis. As a group, sell-side analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HRMY has been the subject of a number of research analyst reports. Mizuho decreased their price target on Harmony Biosciences from $52.00 to $42.00 and set an "outperform" rating for the company in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 target price on shares of Harmony Biosciences in a report on Tuesday, February 25th. Finally, HC Wainwright lowered their price target on Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $53.11.

Harmony Biosciences Company 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.