Jefferies Financial Group Inc. Reduces Holdings in Harmony Biosciences Holdings, Inc. $HRMY

Jefferies Financial Group Inc. decreased its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 85.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,251 shares of the company’s stock after selling 173,704 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Harmony Biosciences were worth $1,095,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Public Sector Pension Investment Board lifted its holdings in shares of Harmony Biosciences by 41.6% in the third quarter. Public Sector Pension Investment Board now owns 185,803 shares of the company’s stock worth $5,121,000 after buying an additional 54,605 shares in the last quarter. Ruffer LLP purchased a new stake in Harmony Biosciences during the fourth quarter valued at $1,536,000. American Century Companies Inc. raised its stake in Harmony Biosciences by 11.2% during the third quarter. American Century Companies Inc. now owns 1,669,565 shares of the company’s stock valued at $46,013,000 after purchasing an additional 168,145 shares in the last quarter. LSV Asset Management raised its stake in Harmony Biosciences by 7.1% during the third quarter. LSV Asset Management now owns 1,594,893 shares of the company’s stock valued at $43,955,000 after purchasing an additional 106,391 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Harmony Biosciences during the third quarter valued at $1,572,000. 86.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Mizuho set a $50.00 price target on shares of Harmony Biosciences in a research note on Thursday, February 19th. Truist Financial upped their price target on shares of Harmony Biosciences from $25.00 to $29.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Needham & Company LLC decreased their price target on shares of Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Zacks Research raised shares of Harmony Biosciences from a “strong sell” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price target on the stock. in a research note on Monday, February 23rd. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $40.89.

Harmony Biosciences Trading Up 2.4%

Shares of HRMY opened at $31.49 on Friday. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $40.87. The company has a market cap of $1.82 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.21 and a beta of 0.97. The company has a current ratio of 3.58, a quick ratio of 3.56 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $29.64 and its 200-day simple moving average is $33.18.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Thursday, May 7th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.21). Harmony Biosciences had a net margin of 16.20% and a return on equity of 17.19%. The firm had revenue of $215.39 million during the quarter, compared to analysts’ expectations of $220.84 million. During the same period in the prior year, the company posted $0.78 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. As a group, analysts expect that Harmony Biosciences Holdings, Inc. will post 3.2 EPS for the current year.

About Harmony Biosciences

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.