Public Sector Pension Investment Board Buys 25,802 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Public Sector Pension Investment Board lifted its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,154 shares of the company's stock after acquiring an additional 25,802 shares during the period. Public Sector Pension Investment Board owned approximately 0.21% of Harmony Biosciences worth $4,021,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Nuveen LLC bought a new position in shares of Harmony Biosciences in the 1st quarter worth about $3,805,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Harmony Biosciences in the 1st quarter worth about $3,791,000. Citigroup Inc. raised its position in shares of Harmony Biosciences by 2.8% in the 1st quarter. Citigroup Inc. now owns 205,340 shares of the company's stock worth $6,815,000 after acquiring an additional 5,539 shares in the last quarter. Swiss National Bank raised its position in shares of Harmony Biosciences by 6.0% in the 1st quarter. Swiss National Bank now owns 82,900 shares of the company's stock worth $2,751,000 after acquiring an additional 4,700 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of Harmony Biosciences by 25.0% in the 1st quarter. LSV Asset Management now owns 1,194,961 shares of the company's stock worth $39,661,000 after acquiring an additional 238,744 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HRMY shares. The Goldman Sachs Group started coverage on shares of Harmony Biosciences in a research report on Thursday, July 10th. They set a "neutral" rating and a $33.00 price objective on the stock. Oppenheimer started coverage on shares of Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 price objective on the stock. Cantor Fitzgerald raised shares of Harmony Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. Needham & Company LLC reissued a "buy" rating and set a $49.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, May 6th. Finally, UBS Group decreased their target price on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, April 28th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Harmony Biosciences presently has a consensus rating of "Buy" and a consensus target price of $51.00.

Harmony Biosciences Price Performance

Harmony Biosciences stock traded up $0.23 during midday trading on Wednesday, reaching $36.63. 459,580 shares of the stock were exchanged, compared to its average volume of 656,257. The company's fifty day moving average is $34.27 and its 200-day moving average is $33.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.80 and a current ratio of 3.84. The firm has a market cap of $2.11 billion, a PE ratio of 11.82, a PEG ratio of 0.43 and a beta of 0.84. Harmony Biosciences Holdings, Inc. has a 52 week low of $26.47 and a 52 week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.10). The business had revenue of $200.49 million during the quarter, compared to the consensus estimate of $204.37 million. Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.Harmony Biosciences's revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 earnings per share. Harmony Biosciences has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS 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.