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

Jefferies Financial Group Inc. lowered its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 85.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,251 shares of the company’s stock after selling 173,704 shares during the quarter. Jefferies Financial Group Inc. owned 0.05% of Harmony Biosciences worth $1,095,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in HRMY. Public Sector Pension Investment Board grew its holdings in shares of Harmony Biosciences by 41.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 185,803 shares of the company’s stock valued at $5,121,000 after purchasing an additional 54,605 shares during the last quarter. Ruffer LLP bought a new position in shares of Harmony Biosciences during the 4th quarter valued at $1,536,000. American Century Companies Inc. grew its holdings in shares of Harmony Biosciences by 11.2% during the 3rd 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 during the last quarter. LSV Asset Management grew its holdings in shares of Harmony Biosciences by 7.1% during the 3rd 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 during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Harmony Biosciences during the 3rd quarter valued at $1,572,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

HRMY has been the topic of several recent research reports. Zacks Research raised shares of Harmony Biosciences from a “strong sell” rating to a “hold” rating in a report on Friday, May 1st. Bank of America reduced their target price on shares of Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating on the stock in a report on Wednesday, February 25th. Mizuho set a $50.00 target price on shares of Harmony Biosciences in a report on Thursday, February 19th. UBS Group reduced their target price on shares of Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Harmony Biosciences has a consensus rating of “Hold” and an average price target of $40.89.

Harmony Biosciences Trading Up 2.4%

Shares of NASDAQ HRMY opened at $31.49 on Friday. Harmony Biosciences Holdings, Inc. has a 1 year low of $25.52 and a 1 year high of $40.87. The stock has a market cap of $1.82 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 0.21 and a beta of 0.97. The firm has a 50-day moving average of $29.64 and a 200 day moving average of $33.18. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.58 and a quick ratio of 3.56.

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

Harmony Biosciences 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.