Illinois Municipal Retirement Fund Increases Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Illinois Municipal Retirement Fund boosted its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 37.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,786 shares of the company’s stock after buying an additional 5,888 shares during the period. Illinois Municipal Retirement Fund’s holdings in Harmony Biosciences were worth $750,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Harmony Biosciences by 21.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company’s stock worth $80,000 after acquiring an additional 360 shares during the period. GAMMA Investing LLC raised its stake in Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after purchasing an additional 436 shares during the period. New York State Teachers Retirement System boosted its holdings in Harmony Biosciences by 2.6% in the 4th quarter. New York State Teachers Retirement System now owns 31,693 shares of the company’s stock valued at $1,091,000 after purchasing an additional 809 shares during the last quarter. KBC Group NV grew its stake in shares of Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after buying an additional 819 shares during the period. Finally, Hedeker Wealth LLC increased its holdings in shares of Harmony Biosciences by 1.2% during the 4th quarter. Hedeker Wealth LLC now owns 76,203 shares of the company’s stock worth $2,622,000 after buying an additional 916 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on HRMY shares. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Harmony Biosciences in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They issued a “buy” rating and a $55.00 price target on the stock. Mizuho cut their price objective 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. Finally, HC Wainwright decreased their target price 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. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Harmony Biosciences has a consensus rating of “Buy” and an average price target of $53.11.

Insiders Place Their Bets

In related news, insider Jeffrey Dierks sold 1,629 shares of Harmony Biosciences stock in a transaction on Monday, January 27th. The stock was sold at an average price of $38.02, for a total value of $61,934.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total value of $774,228.09. The disclosure for this sale can be found here. Insiders sold a total of 72,452 shares of company stock worth $2,831,679 over the last 90 days. Corporate insiders own 30.80% of the company’s stock.

Harmony Biosciences Stock Performance

Shares of Harmony Biosciences stock opened at $32.18 on Tuesday. 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 $1.85 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The business has a 50-day moving average of $36.57 and a 200 day moving average of $35.79. Harmony Biosciences Holdings, Inc. has a 12 month low of $28.14 and a 12 month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $201.30 million during the quarter, compared to analyst estimates of $201.25 million. During the same quarter last year, the firm posted $0.45 earnings per share. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

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.