Jacobs Levy Equity Management Inc. Sells 1,408 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Jacobs Levy Equity Management Inc. lessened its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 0.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 237,327 shares of the company’s stock after selling 1,408 shares during the period. Jacobs Levy Equity Management Inc. owned 0.42% of Harmony Biosciences worth $7,969,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in HRMY. TFO Wealth Partners LLC boosted its holdings in Harmony Biosciences by 98,700.0% in the fourth quarter. TFO Wealth Partners LLC now owns 988 shares of the company’s stock valued at $32,000 after acquiring an additional 987 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Harmony Biosciences by 47.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,022 shares of the company’s stock valued at $33,000 after acquiring an additional 329 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Harmony Biosciences by 98.3% in the first quarter. Lazard Asset Management LLC now owns 4,542 shares of the company’s stock valued at $152,000 after buying an additional 2,251 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Harmony Biosciences in the fourth quarter valued at about $210,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Harmony Biosciences by 342.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,777 shares of the company’s stock valued at $219,000 after buying an additional 5,244 shares during the period. Institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup assumed coverage on Harmony Biosciences in a research note on Friday, June 21st. They issued a “buy” rating and a $48.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Harmony Biosciences in a research note on Monday, June 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $49.00 target price on shares of Harmony Biosciences in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Harmony Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.67.

Harmony Biosciences Stock Performance

NASDAQ:HRMY traded up $0.05 during mid-day trading on Tuesday, hitting $33.87. 286,208 shares of the stock were exchanged, compared to its average volume of 384,726. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.84 and a beta of 0.72. The firm’s 50-day simple moving average is $31.05 and its 200 day simple moving average is $31.30. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.07 and a current ratio of 3.11. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $39.26.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $154.62 million during the quarter, compared to analysts’ expectations of $154.10 million. Harmony Biosciences had a return on equity of 28.26% and a net margin of 22.30%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm posted $0.48 EPS. As a group, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 1.79 EPS for the current fiscal 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.