Kumar Budur Sells 5,500 Shares of Harmony Biosciences (NASDAQ:HRMY) Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Kumar Budur sold 5,500 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $41.98, for a total transaction of $230,890.00. Following the completion of the transaction, the insider owned 18,615 shares in the company, valued at approximately $781,457.70. The trade was a 22.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, September 8th, Kumar Budur sold 28,454 shares of Harmony Biosciences stock. The shares were sold at an average price of $42.96, for a total transaction of $1,222,383.84.

Harmony Biosciences Stock Down 1.2%

NASDAQ:HRMY opened at $41.10 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48. The firm has a market cap of $2.39 billion, a P/E ratio of 13.34, a P/E/G ratio of 0.39 and a beta of 0.93. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $43.49. The firm has a 50-day simple moving average of $38.04 and a two-hundred day simple moving average of $33.19.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results 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. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The firm had revenue of $261.28 million for 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. The business’s revenue was up 30.3% on a year-over-year basis. Analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

A number of large investors have recently added to or reduced their stakes in HRMY. Chase Investment Counsel Corp bought a new stake in Harmony Biosciences during the second quarter valued at approximately $1,820,000. Aurora Investment Counsel bought a new position in Harmony Biosciences in the second quarter worth approximately $2,372,000. Sanctuary Advisors LLC purchased a new position in shares of Harmony Biosciences during the 1st quarter worth $1,030,000. Deutsche Bank AG purchased a new position in shares of Harmony Biosciences during the 2nd quarter worth $3,700,000. Finally, Virtus Advisers LLC bought a new stake in shares of Harmony Biosciences during the 2nd quarter valued at $1,065,000. Institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on HRMY shares. Oppenheimer reiterated an “outperform” rating and set a $70.00 target price on shares of Harmony Biosciences in a research note on Tuesday, August 4th. Wolfe Research initiated coverage on Harmony Biosciences in a research note on Wednesday, August 26th. They issued an “outperform” rating and a $60.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price target on shares of Harmony Biosciences in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $39.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Harmony Biosciences presently has an average rating of “Hold” and a consensus price target 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.