Harmony Biosciences (NASDAQ:HRMY) Insider Kumar Budur Sells 28,454 Shares of Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Kumar Budur sold 28,454 shares of Harmony Biosciences stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $42.96, for a total transaction of $1,222,383.84. Following the sale, the insider owned 13,115 shares in the company, valued at approximately $563,420.40. This represents a 68.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 Stock Down 1.1%

Harmony Biosciences stock opened at $41.62 on Thursday. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.39 and a beta of 0.93. 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’s 50-day moving average price is $37.96 and its two-hundred day moving average price is $33.11. Harmony Biosciences Holdings, Inc. has a 52 week low of $25.52 and a 52 week high of $43.49.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.32. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The company had revenue of $261.28 million during the quarter, compared to analyst estimates of $250.77 million. During the same period in the prior year, the business posted $0.92 EPS. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, analysts expect that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nebula Research & Development LLC raised its holdings in Harmony Biosciences by 2.0% during the 2nd quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock worth $550,000 after buying an additional 348 shares during the period. IFP Advisors Inc boosted its holdings in shares of Harmony Biosciences by 4.6% in the second quarter. IFP Advisors Inc now owns 8,102 shares of the company’s stock worth $295,000 after buying an additional 353 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Harmony Biosciences by 2.4% in the second quarter. The Manufacturers Life Insurance Company now owns 22,686 shares of the company’s stock worth $717,000 after buying an additional 532 shares during the period. Allworth Financial LP increased its position in shares of Harmony Biosciences by 286.7% in the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock worth $30,000 after acquiring an additional 602 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Harmony Biosciences by 30.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,663 shares of the company’s stock worth $100,000 after acquiring an additional 619 shares in the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on HRMY shares. Oppenheimer reissued an “outperform” rating and issued a $70.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, August 4th. Needham & Company LLC raised their target price on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $39.00 target price on shares of Harmony Biosciences in a report on Wednesday, August 5th. 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, UBS Group restated a “neutral” rating and set a $37.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.