Insider Selling: Harmony Biosciences (NASDAQ:HRMY) Insider Sells $230,890.00 in Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Kumar Budur sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $41.98, for a total transaction of $230,890.00. Following the transaction, the insider owned 18,615 shares in the company, valued at $781,457.70. This represents a 22.81% 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 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

Shares of NASDAQ HRMY opened at $41.52 on Friday. Harmony Biosciences Holdings, Inc. has a 1 year low of $25.52 and a 1 year high of $43.49. The firm has a market cap of $2.42 billion, a P/E ratio of 13.48, a PEG ratio of 0.38 and a beta of 0.93. The stock has a fifty day moving average price of $38.12 and a two-hundred day moving average price of $33.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.32. The company had revenue of $261.28 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 EPS. Research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.

Analyst Ratings Changes

HRMY has been the subject of several research reports. 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. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Harmony Biosciences in a research report on Thursday, July 16th. Mizuho lifted their price target on Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Needham & Company LLC upped their price objective on shares of Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded shares of Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Five equities research analysts have rated the stock with a Buy rating, five have issued 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 target price of $47.11.

Institutional Investors Weigh In On Harmony Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in Harmony Biosciences by 589.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after acquiring an additional 643 shares in the last quarter. Leonteq Securities AG bought a new stake in Harmony Biosciences in the fourth quarter worth approximately $30,000. Allworth Financial LP grew 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. Nykredit A S acquired a new position in shares of Harmony Biosciences during the 2nd quarter worth $33,000. Finally, National Bank of Canada FI acquired a new position in shares of Harmony Biosciences during the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.