Jefferies Financial Group Inc. Increases Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Jefferies Financial Group Inc. increased its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 41.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 305,600 shares of the company's stock after purchasing an additional 89,000 shares during the period. Jefferies Financial Group Inc. owned approximately 0.54% of Harmony Biosciences worth $10,516,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HRMY. GAMMA Investing LLC boosted its position in shares of Harmony Biosciences by 92.6% during the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company's stock worth $31,000 after purchasing an additional 436 shares during the period. Mendota Financial Group LLC grew its stake in shares of Harmony Biosciences by 24,125.0% in the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock worth $33,000 after acquiring an additional 965 shares in the last quarter. KBC Group NV grew its stake in shares of Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company's stock worth $63,000 after acquiring an additional 819 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Harmony Biosciences by 28.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock worth $80,000 after acquiring an additional 519 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in shares of Harmony Biosciences by 34.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,987 shares of the company's stock worth $137,000 after acquiring an additional 1,029 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on HRMY. Needham & Company LLC restated a "buy" rating and issued a $49.00 price target on shares of Harmony Biosciences in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target for the company. HC Wainwright restated a "buy" rating and issued a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, April 8th. UBS Group dropped their price target on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Finally, Mizuho boosted their price target on shares of Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research note on Thursday. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Harmony Biosciences presently has an average rating of "Buy" and an average target price of $52.78.

Harmony Biosciences Stock Up 2.5%

Shares of Harmony Biosciences stock traded up $0.84 during trading on Friday, hitting $35.07. 410,868 shares of the stock were exchanged, compared to its average volume of 594,694. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 0.47 and a beta of 0.82. The firm's 50-day moving average price is $31.45 and its 200 day moving average price is $33.96. Harmony Biosciences Holdings, Inc. has a 12-month low of $26.47 and a 12-month high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.19. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $184.73 million during the quarter, compared to analysts' expectations of $184.26 million. During the same period in the previous year, the company earned $0.67 EPS. The company's revenue for the quarter was up 19.5% on a year-over-year basis. As a group, analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal 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.