Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Stock Position Trimmed by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. has reduced its stake in Harmony Biosciences Holdings, Inc. by 52.8%, now holding approximately 0.25% of the company, valued at $4.78 million.
• Harmony Biosciences reported earnings of $0.78 per share for the latest quarter, exceeding analyst expectations of $0.59, with revenue increasing by 19.5% year-over-year.
• Analysts remain positive on Harmony Biosciences, with an average target price of $51.00, with several firms issuing "buy" ratings and price targets ranging from $49.00 to $70.00.

Jefferies Financial Group Inc. cut its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 52.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 144,244 shares of the company's stock after selling 161,356 shares during the quarter. Jefferies Financial Group Inc. owned approximately 0.25% of Harmony Biosciences worth $4,787,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Financial Management Professionals Inc. acquired a new stake in Harmony Biosciences in the first quarter valued at approximately $29,000. GF Fund Management CO. LTD. purchased a new position in shares of Harmony Biosciences in the fourth quarter worth $41,000. CWM LLC grew its position in Harmony Biosciences by 34.8% during the 1st quarter. CWM LLC now owns 2,704 shares of the company's stock worth $90,000 after purchasing an additional 698 shares during the period. GAMMA Investing LLC grew its position in Harmony Biosciences by 222.9% during the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $97,000 after purchasing an additional 2,022 shares during the period. Finally, Virtus Investment Advisers Inc. acquired a new stake in Harmony Biosciences during the 4th quarter worth about $124,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HRMY. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $55.00 price objective (up previously from $54.00) on shares of Harmony Biosciences in a report on Thursday, July 10th. Oppenheimer initiated coverage on shares of Harmony Biosciences in a research note on Monday, June 2nd. They issued an "outperform" rating and a $61.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Harmony Biosciences in a report on Thursday, July 10th. They set a "neutral" rating and a $33.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $49.00 target price on shares of Harmony Biosciences in a report on Tuesday, May 6th. Finally, Truist Financial started coverage on shares of Harmony Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $48.00 target price for the company. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Harmony Biosciences has a consensus rating of "Buy" and a consensus price target of $51.00.

Harmony Biosciences Trading Down 1.1%

Shares of HRMY traded down $0.37 on Wednesday, hitting $34.57. 323,526 shares of the stock traded hands, compared to its average volume of 668,206. The company has a quick ratio of 3.63, a current ratio of 3.67 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $1.99 billion, a P/E ratio of 13.20, a P/E/G ratio of 0.48 and a beta of 0.84. Harmony Biosciences Holdings, Inc. has a 1 year low of $26.47 and a 1 year high of $41.61. The stock's 50 day moving average is $34.14 and its two-hundred day moving average is $33.91.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.19. The business had revenue of $184.73 million for the quarter, compared to the consensus estimate of $184.26 million. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. The business's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 EPS. As a group, sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Harmony Biosciences Company Profile

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.