Jefferies Financial Group Inc. Buys 32,385 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Jefferies Financial Group Inc. lifted its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 19.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 202,955 shares of the company’s stock after acquiring an additional 32,385 shares during the period. Jefferies Financial Group Inc. owned approximately 0.35% of Harmony Biosciences worth $5,593,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amundi raised its position in Harmony Biosciences by 115.6% during the first quarter. Amundi now owns 39,668 shares of the company’s stock valued at $1,229,000 after purchasing an additional 21,266 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Harmony Biosciences by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock worth $752,000 after purchasing an additional 984 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Harmony Biosciences during the 1st quarter valued at about $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Harmony Biosciences by 53.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company’s stock valued at $3,166,000 after buying an additional 33,058 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Harmony Biosciences by 14.6% during the 2nd quarter. Bank of Montreal Can now owns 13,559 shares of the company’s stock valued at $428,000 after buying an additional 1,729 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HRMY shares. Oppenheimer reaffirmed an “outperform” rating and issued a $62.00 target price on shares of Harmony Biosciences in a research note on Monday, November 24th. Deutsche Bank Aktiengesellschaft lowered shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a report on Monday, February 23rd. Truist Financial cut shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research note on Monday, February 23rd. Needham & Company LLC reduced their target price on shares of Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, UBS Group decreased their target price on shares of Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $42.67.

Harmony Biosciences Price Performance

Shares of Harmony Biosciences stock opened at $28.57 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.60 and a quick ratio of 3.58. Harmony Biosciences Holdings, Inc. has a one year low of $25.52 and a one year high of $40.87. The business’s 50 day simple moving average is $34.82 and its two-hundred day simple moving average is $33.70. The stock has a market capitalization of $1.65 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 0.38 and a beta of 0.88.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.46). Harmony Biosciences had a return on equity of 19.86% and a net margin of 18.29%.The firm had revenue of $243.78 million during the quarter, compared to the consensus estimate of $240.04 million. During the same quarter in the prior year, the business posted $0.85 EPS. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Insiders Place Their Bets

In other Harmony Biosciences news, CFO Sandip Kapadia sold 3,746 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $37.15, for a total value of $139,163.90. Following the transaction, the chief financial officer owned 24,521 shares in the company, valued at approximately $910,955.15. The trade was a 13.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey M. Dayno sold 25,933 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $40.11, for a total transaction of $1,040,172.63. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 50,640 shares of company stock worth $1,932,256. Insiders own 23.60% of the company’s stock.

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.