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 Harmony Biosciences stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $41.98, for a total value of $230,890.00. Following the sale, the insider directly owned 18,615 shares in the company, valued at $781,457.70. The trade was a 22.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

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

Harmony Biosciences Stock Performance

HRMY traded down $0.45 during trading on Wednesday, reaching $41.62. 1,132,798 shares of the company’s stock were exchanged, compared to its average volume of 846,651. The company has a market capitalization of $2.42 billion, a P/E ratio of 13.51, a PEG ratio of 0.39 and a beta of 0.93. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $37.85 and a 200 day moving average price of $33.06. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $43.49.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.32. The company 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 business’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 EPS. As a group, 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 hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after purchasing an additional 643 shares during the last quarter. Leonteq Securities AG bought a new stake in Harmony Biosciences during the fourth quarter worth about $30,000. Allworth Financial LP grew its stake in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after buying an additional 602 shares during the last quarter. Nykredit A S acquired a new stake in shares of Harmony Biosciences during the second quarter worth approximately $33,000. Finally, National Bank of Canada FI acquired a new stake in shares of Harmony Biosciences during the third quarter worth approximately $40,000. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on HRMY shares. UBS Group restated a “neutral” rating and set a $37.00 price target on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Zacks Research lowered Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $39.00 target price on shares of Harmony Biosciences in a report on Wednesday, August 5th. 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. Finally, Wolfe Research began coverage on Harmony Biosciences in a research note on Wednesday, August 26th. They issued an “outperform” rating and a $60.00 price target on the stock. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $47.11.

About Harmony Biosciences

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.