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Oregon Public Employees Retirement Fund Buys 1,072 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

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Oregon Public Employees Retirement Fund raised its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMYGet Rating) by 14.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,605 shares of the company’s stock after acquiring an additional 1,072 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Harmony Biosciences were worth $419,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Harmony Biosciences by 16.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,057 shares of the company’s stock valued at $246,000 after acquiring an additional 727 shares during the period. Acadian Asset Management LLC bought a new position in shares of Harmony Biosciences in the fourth quarter valued at about $84,000. Russell Investments Group Ltd. raised its holdings in shares of Harmony Biosciences by 39.5% in the fourth quarter. Russell Investments Group Ltd. now owns 8,193 shares of the company’s stock valued at $348,000 after buying an additional 2,321 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in shares of Harmony Biosciences in the fourth quarter valued at about $133,000. Finally, GSA Capital Partners LLP bought a new position in shares of Harmony Biosciences in the fourth quarter valued at about $215,000. 75.62% of the stock is owned by institutional investors.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY opened at $53.65 on Friday. The stock has a market capitalization of $3.17 billion, a P/E ratio of 67.06 and a beta of 0.35. Harmony Biosciences Holdings, Inc. has a 1-year low of $25.09 and a 1-year high of $57.13. The business has a 50-day moving average price of $45.76 and a two-hundred day moving average price of $43.78. The company has a current ratio of 4.96, a quick ratio of 4.88 and a debt-to-equity ratio of 0.89.

Harmony Biosciences (NASDAQ:HRMYGet Rating) last posted its earnings results on Tuesday, May 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.26. The company had revenue of $85.31 million during the quarter, compared to analyst estimates of $87.77 million. Harmony Biosciences had a return on equity of 69.07% and a net margin of 14.71%. During the same period in the previous year, the company earned $0.38 EPS. Equities analysts predict that Harmony Biosciences Holdings, Inc. will post 1.69 earnings per share for the current year.

Insider Transactions at Harmony Biosciences

In other news, Director Jack Nielsen sold 180,838 shares of the business’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $56.01, for a total transaction of $10,128,736.38. Following the completion of the transaction, the director now directly owns 3,432,006 shares in the company, valued at approximately $192,226,656.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO John C. Jacobs sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $45.42, for a total value of $681,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jack Nielsen sold 180,838 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $56.01, for a total value of $10,128,736.38. Following the completion of the transaction, the director now owns 3,432,006 shares of the company’s stock, valued at $192,226,656.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,835 shares of company stock worth $21,764,455. 34.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Oppenheimer lifted their price target on Harmony Biosciences from $55.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, June 29th. Cantor Fitzgerald began coverage on Harmony Biosciences in a report on Thursday, April 14th. They issued an “overweight” rating and a $63.00 price target for the company. Mizuho began coverage on Harmony Biosciences in a report on Wednesday, July 6th. They set a “buy” rating and a $64.00 price objective for the company. Finally, The Goldman Sachs Group cut Harmony Biosciences from a “buy” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.83.

About Harmony Biosciences

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Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, develops and commercializes therapies for patients with rare neurological disorders in the United States. Its product, WAKIX is a medication for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.

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