Harmony Biosciences (NASDAQ:HRMY) Insider Sells $1,222,383.84 in Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Kumar Budur sold 28,454 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $42.96, for a total transaction of $1,222,383.84. Following the completion of the transaction, the insider owned 13,115 shares of the company’s stock, valued at $563,420.40. This represents a 68.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Kumar Budur also recently made the following trade(s):

• On Friday, September 4th, Kumar Budur sold 5,500 shares of Harmony Biosciences stock. The stock was sold at an average price of $41.98, for a total transaction of $230,890.00.

Harmony Biosciences Trading Up 1.0%

Shares of NASDAQ:HRMY opened at $41.52 on Friday. Harmony Biosciences Holdings, Inc. has a 52 week low of $25.52 and a 52 week high of $43.49. The company’s 50 day moving average is $38.12 and its two-hundred day moving average is $33.25. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.42 billion, a PE ratio of 13.48, a P/E/G ratio of 0.38 and a beta of 0.93.

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, topping the consensus estimate of $0.96 by $0.32. The business had revenue of $261.28 million during the quarter, compared to analysts’ expectations of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 EPS. Equities analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HRMY. Weiss Ratings raised Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Mizuho raised their target price on Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Truist Financial boosted their target price on Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Needham & Company LLC upped their price target on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a research note on Thursday, July 16th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Harmony Biosciences currently has a consensus rating of “Hold” and an average price target of $47.11.

Institutional Trading of Harmony Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in HRMY. Chase Investment Counsel Corp acquired a new stake in shares of Harmony Biosciences in the second quarter valued at approximately $1,820,000. Aurora Investment Counsel acquired a new position in shares of Harmony Biosciences in the 2nd quarter valued at $2,372,000. Sanctuary Advisors LLC acquired a new position in shares of Harmony Biosciences in the 1st quarter valued at $1,030,000. Deutsche Bank AG purchased a new stake in Harmony Biosciences in the 2nd quarter valued at $3,700,000. Finally, Virtus Advisers LLC purchased a new stake in Harmony Biosciences in the 2nd quarter valued at $1,065,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial-stage pharmaceutical company focused on developing and commercializing therapies for patients with rare neurological disorders. The company was founded in 2017 and is headquartered in Plymouth Meeting, Pennsylvania, with an emphasis on conditions that are often underserved by traditional pharmaceutical research.

Harmony’s principal product is WAKIX (pitolisant), a first-in-class histamine H3 receptor antagonist/inverse agonist approved by the U.S.