Harmony Biosciences (NASDAQ:HRMY) Insider Sells 35,852 Shares

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Kumar Budur sold 35,852 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $43.05, for a total value of $1,543,428.60. Following the sale, the insider owned 13,115 shares of the company’s stock, valued at $564,600.75. This trade represents a 73.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, September 16th, Kumar Budur sold 1,800 shares of Harmony Biosciences stock. The shares were sold at an average price of $43.01, for a total transaction of $77,418.00.
• On Thursday, September 17th, Kumar Budur sold 800 shares of Harmony Biosciences stock. The shares were sold at an average price of $43.00, for a total transaction of $34,400.00.
• 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.
• 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 transaction of $1,222,383.84.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY traded down $0.72 during midday trading on Friday, hitting $42.02. The stock had a trading volume of 3,658,096 shares, compared to its average volume of 869,461. The company has a market capitalization of $2.45 billion, a PE ratio of 13.64, a P/E/G ratio of 0.39 and a beta of 0.93. The stock has a 50 day moving average price of $38.46 and a two-hundred day moving average price of $33.68. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. Harmony Biosciences Holdings, Inc. has a 1 year low of $25.52 and a 1 year high of $43.49.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $250.77 million. During the same period in the prior year, the company posted $0.92 earnings per share. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, equities analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HRMY. Mizuho upped their price objective on Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Zacks Research lowered shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating and issued a $55.00 price objective on shares of Harmony Biosciences in a research note on Thursday, July 16th. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Finally, Wolfe Research assumed coverage on shares of Harmony Biosciences in a research report on Wednesday, August 26th. They set an “outperform” rating and a $60.00 price target for the company. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Harmony Biosciences presently has an average rating of “Hold” and an average target price of $47.11.

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors have recently made changes to their positions in HRMY. EverSource Wealth Advisors LLC lifted its holdings in shares of Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after acquiring an additional 643 shares during the period. Allworth Financial LP grew its holdings in Harmony Biosciences by 286.7% in the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after purchasing an additional 602 shares during the period. Leonteq Securities AG acquired a new position in Harmony Biosciences during the fourth quarter worth approximately $30,000. Nykredit A S purchased a new position in Harmony Biosciences during the second quarter worth approximately $33,000. Finally, Clearstead Advisors LLC raised its stake in Harmony Biosciences by 145.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock worth $44,000 after purchasing an additional 699 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

About Harmony Biosciences

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.