Jefferies Financial Group Inc. Trims Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

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. lowered its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 52.8% in the first quarter, according to the company in its most recent disclosure 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 0.25% of Harmony Biosciences worth $4,787,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Aurora Investment Counsel raised its holdings in Harmony Biosciences by 0.6% in the first quarter. Aurora Investment Counsel now owns 61,667 shares of the company's stock valued at $2,047,000 after buying an additional 374 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Harmony Biosciences by 2.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company's stock valued at $704,000 after acquiring an additional 420 shares during the period. Rhumbline Advisers raised its stake in Harmony Biosciences by 0.4% during the 1st quarter. Rhumbline Advisers now owns 109,073 shares of the company's stock valued at $3,620,000 after acquiring an additional 485 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Harmony Biosciences by 1.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,331 shares of the company's stock worth $2,145,000 after acquiring an additional 678 shares in the last quarter. Finally, Aviva PLC grew its holdings in shares of Harmony Biosciences by 3.9% in the 4th quarter. Aviva PLC now owns 18,072 shares of the company's stock worth $622,000 after acquiring an additional 686 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HRMY has been the subject of several research reports. Oppenheimer initiated coverage on Harmony Biosciences in a report on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target for the company. Cantor Fitzgerald raised Harmony Biosciences to a "strong-buy" rating in a report on Tuesday, May 13th. Mizuho upped their price target on shares of Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. HC Wainwright reissued a "buy" rating and issued a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Finally, UBS Group decreased their price objective on Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research report on Monday, April 28th. One equities research 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. According to data from MarketBeat.com, Harmony Biosciences presently has an average rating of "Buy" and an average target price of $51.00.

Harmony Biosciences Trading Up 3.3%

Shares of HRMY traded up $1.14 during trading hours on Monday, hitting $35.54. The company had a trading volume of 672,924 shares, compared to its average volume of 606,029. The stock's 50 day moving average price is $34.09 and its 200 day moving average price is $33.93. Harmony Biosciences Holdings, Inc. has a 52-week low of $26.47 and a 52-week high of $41.61. 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 cap of $2.04 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.47 and a beta of 0.84.

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 the consensus estimate 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 return on equity of 24.32% and a net margin of 20.53%. The company's revenue was up 19.5% compared to the same quarter last year. During the same period last year, the business posted $0.67 EPS. On average, research analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Harmony Biosciences 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.