Harmony Biosciences (NASDAQ:HRMY) Insider Kumar Budur 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 on Friday, September 18th. The shares were sold at an average price of $43.05, for a total transaction 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 represents a 73.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 shares were sold at an average price of $42.96, for a total value of $1,222,383.84.

Harmony Biosciences Trading Down 1.7%

NASDAQ HRMY opened at $42.02 on Friday. The stock has a market cap of $2.45 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 0.40 and a beta of 0.93. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $43.49. The stock has a 50 day simple moving average of $38.57 and a two-hundred day simple moving average of $33.74. 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 earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.32. The firm had revenue of $261.28 million for the quarter, compared to analysts’ expectations of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The business’s revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share. On average, analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current year.

Institutional Trading of Harmony Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in shares of Harmony Biosciences in the second quarter worth approximately $65,000. IFP Advisors Inc increased its position in shares of Harmony Biosciences by 4.6% during the second quarter. IFP Advisors Inc now owns 8,102 shares of the company’s stock valued at $295,000 after acquiring an additional 353 shares in the last quarter. Baird Financial Group Inc. bought a new stake in shares of Harmony Biosciences during the second quarter valued at approximately $205,000. Allworth Financial LP increased its position in shares of Harmony Biosciences by 141.3% during the second quarter. Allworth Financial LP now owns 1,945 shares of the company’s stock valued at $71,000 after acquiring an additional 1,139 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Harmony Biosciences by 11.1% in the 2nd quarter. Arizona State Retirement System now owns 13,167 shares of the company’s stock worth $479,000 after acquiring an additional 1,315 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HRMY shares. Wolfe Research started coverage on Harmony Biosciences in a report on Wednesday, August 26th. They set an “outperform” rating and a $60.00 target price on the stock. Mizuho raised their target price on Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Oppenheimer restated an “outperform” rating and set a $70.00 price target on shares of Harmony Biosciences in a research report on Tuesday, August 4th. Truist Financial upped their price target on Harmony Biosciences from $29.00 to $34.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Finally, Zacks Research downgraded Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Five 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.com, the company currently 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 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.