Kumar Budur Sells 1,800 Shares of Harmony Biosciences (NASDAQ:HRMY) Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Kumar Budur sold 1,800 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $43.01, for a total transaction of $77,418.00. Following the completion of the sale, the insider directly owned 13,115 shares of the company’s stock, valued at approximately $564,076.15. This trade represents a 12.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 18th, Kumar Budur sold 35,852 shares of Harmony Biosciences stock. The shares were sold at an average price of $43.05, for a total value of $1,543,428.60.
• 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 value 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 value of $1,222,383.84.

Harmony Biosciences Trading Down 1.7%

HRMY stock traded down $0.72 during midday trading on Friday, hitting $42.02. 3,658,124 shares of the company’s stock were exchanged, compared to its average volume of 869,461. Harmony Biosciences Holdings, Inc. has a 1-year low of $25.52 and a 1-year high of $43.49. 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 stock 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 business has a 50-day simple moving average of $38.46 and a two-hundred day simple moving average of $33.68.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $0.96 by $0.32. The business had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The company’s quarterly 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. On average, sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors have recently bought and sold shares of the company. IFP Advisors Inc boosted its stake 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 valued at $295,000 after buying an additional 353 shares in the last quarter. Allworth Financial LP raised its position in 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. EverSource Wealth Advisors LLC raised its position in Harmony Biosciences by 589.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock worth $28,000 after acquiring an additional 643 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in Harmony Biosciences by 145.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after acquiring an additional 699 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its holdings in Harmony Biosciences by 3.8% in the first quarter. Illinois Municipal Retirement Fund now owns 20,020 shares of the company’s stock valued at $561,000 after acquiring an additional 727 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $55.00 price target on shares of Harmony Biosciences in a research report on Thursday, July 16th. Zacks Research lowered shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. UBS Group reaffirmed a “neutral” rating and set a $37.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Finally, Mizuho boosted their target price on Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $47.11.

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.