Jefferies Financial Group Inc. Invests $3.40 Million in Harmony Biosciences Holdings, Inc. $HRMY

Jefferies Financial Group Inc. acquired a new stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 93,400 shares of the company’s stock, valued at approximately $3,401,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Amundi boosted its stake in shares of Harmony Biosciences by 115.6% in the 1st quarter. Amundi now owns 39,668 shares of the company’s stock valued at $1,229,000 after buying an additional 21,266 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Harmony Biosciences by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock valued at $752,000 after acquiring an additional 984 shares in the last quarter. Empowered Funds LLC purchased a new position in Harmony Biosciences in the first quarter worth approximately $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in 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 worth $3,166,000 after acquiring an additional 33,058 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in Harmony Biosciences by 9.8% during the 2nd quarter. Cetera Investment Advisers now owns 8,404 shares of the company’s stock worth $266,000 after acquiring an additional 748 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Harmony Biosciences Trading Down 1.7%

NASDAQ HRMY opened at $39.21 on Friday. The firm’s fifty day moving average price is $36.88 and its 200 day moving average price is $32.82. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.52 and a 12 month high of $40.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.48 and a quick ratio of 3.45. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 0.37 and a beta of 0.96.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The company had revenue of $261.28 million during the quarter, compared to the consensus estimate of $250.77 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Harmony Biosciences’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, sell-side analysts expect that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HRMY. Truist Financial raised their price objective on shares of Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Needham & Company LLC raised their price target on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 price target on shares of Harmony Biosciences in a report on Tuesday, August 4th. Wall Street Zen upgraded Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Finally, Weiss Ratings raised Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $47.11.

Harmony Biosciences Company Profile

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.