Jones Financial Companies Lllp Buys 51,744 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Key Points

• Jones Financial Companies Lllp significantly increased its holdings in Harmony Biosciences by 34,496.0%, acquiring a total of 51,894 shares worth approximately $1.72 million.
• Wall Street analysts have a generally positive outlook on Harmony Biosciences, with a consensus rating of "Buy" and an average price target of $51.00.
• In its latest earnings report, Harmony Biosciences reported earnings per share of $0.68, missing the consensus estimate by $0.10 despite a 16% year-over-year increase in revenue.

Jones Financial Companies Lllp boosted its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 34,496.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,894 shares of the company's stock after buying an additional 51,744 shares during the quarter. Jones Financial Companies Lllp owned approximately 0.09% of Harmony Biosciences worth $1,722,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HRMY. The Manufacturers Life Insurance Company boosted its stake in Harmony Biosciences by 12.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 19,385 shares of the company's stock valued at $667,000 after buying an additional 2,144 shares in the last quarter. Northern Trust Corp boosted its stake in Harmony Biosciences by 37.5% in the 4th quarter. Northern Trust Corp now owns 404,462 shares of the company's stock valued at $13,918,000 after buying an additional 110,345 shares in the last quarter. Comerica Bank boosted its stake in Harmony Biosciences by 27.6% in the 4th quarter. Comerica Bank now owns 13,495 shares of the company's stock valued at $464,000 after buying an additional 2,919 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Harmony Biosciences by 22.0% in the fourth quarter. Ameriprise Financial Inc. now owns 103,801 shares of the company's stock worth $3,572,000 after purchasing an additional 18,730 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Harmony Biosciences in the fourth quarter worth $2,025,000. Institutional investors and hedge funds own 86.23% of the company's stock.

Analyst Upgrades and Downgrades

HRMY has been the topic of a number of recent analyst reports. Wall Street Zen lowered Harmony Biosciences from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $55.00 price objective (up previously from $54.00) on shares of Harmony Biosciences in a research note on Thursday, July 10th. The Goldman Sachs Group initiated coverage on Harmony Biosciences in a research note on Thursday, July 10th. They issued a "neutral" rating and a $33.00 price objective on the stock. Oppenheimer initiated coverage on Harmony Biosciences in a research note on Monday, June 2nd. They issued an "outperform" rating and a $61.00 price objective on the stock. Finally, Truist Financial initiated coverage on Harmony Biosciences in a research note on Monday, July 21st. They issued a "buy" rating and a $48.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $51.00.

Harmony Biosciences Trading Down 3.1%

Shares of HRMY stock traded down $1.03 on Friday, reaching $32.39. 809,622 shares of the stock were exchanged, compared to its average volume of 627,965. The stock has a market cap of $1.86 billion, a PE ratio of 10.45, a P/E/G ratio of 0.39 and a beta of 0.84. Harmony Biosciences Holdings, Inc. has a one year low of $26.47 and a one year high of $41.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.84 and a quick ratio of 3.80. The stock has a 50 day moving average price of $35.65 and a 200 day moving average price of $33.55.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.10). The firm had revenue of $200.49 million for the quarter, compared to the consensus estimate of $204.37 million. Harmony Biosciences had a return on equity of 26.34% and a net margin of 23.44%.The company's revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS. Harmony Biosciences has set its FY 2025 guidance at EPS. Equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.