Louisiana State Employees Retirement System Takes Position in Harmony Biosciences Holdings, Inc. $HRMY

Louisiana State Employees Retirement System acquired a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,600 shares of the company’s stock, valued at approximately $493,000.

A number of other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in Harmony Biosciences by 589.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after buying an additional 643 shares in the last quarter. Allworth Financial LP raised its stake in shares of Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after acquiring an additional 602 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Harmony Biosciences during the fourth quarter worth approximately $30,000. National Bank of Canada FI bought a new stake in shares of Harmony Biosciences in the 3rd quarter worth approximately $40,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of Harmony Biosciences by 145.9% in the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after acquiring an additional 699 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $38.08 on Thursday. The company has a market capitalization of $2.20 billion, a P/E ratio of 15.35, a PEG ratio of 0.36 and a beta of 0.94. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $40.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.56 and a current ratio of 3.58. The stock has a 50 day moving average price of $32.93 and a two-hundred day moving average price of $32.81.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.21). Harmony Biosciences had a return on equity of 17.19% and a net margin of 16.20%.The firm had revenue of $215.39 million during the quarter, compared to the consensus estimate of $220.84 million. During the same quarter in the prior year, the business posted $0.78 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. Analysts expect that Harmony Biosciences Holdings, Inc. will post 3.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial increased their target price on shares of Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Harmony Biosciences from $30.00 to $36.00 and gave the stock a “hold” rating in a research note on Tuesday, June 30th. Weiss Ratings upgraded shares of Harmony Biosciences from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Zacks Research raised Harmony Biosciences from a “strong sell” rating to a “hold” rating in a research note on Friday, May 1st. Finally, HC Wainwright reiterated a “buy” rating on shares of Harmony Biosciences in a report on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Harmony Biosciences currently has an average rating of “Hold” and a consensus target price of $41.44.

Harmony Biosciences Company 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.