Harmony Biosciences (NASDAQ:HRMY) Insider Kumar Budur Sells 800 Shares

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Kumar Budur sold 800 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $43.00, for a total value of $34,400.00. Following the completion of the transaction, the insider directly owned 13,115 shares of the company’s stock, valued at $563,945. This represents a 5.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

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

Harmony Biosciences Stock Down 1.7%

HRMY stock opened at $42.02 on Friday. The company has a market capitalization of $2.45 billion, a P/E ratio of 13.64, a PEG ratio of 0.40 and a beta of 0.93. The firm has a 50 day simple moving average of $38.57 and a 200-day simple moving average of $33.74. 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 twelve month low of $25.52 and a twelve month high of $43.49.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HRMY shares. Mizuho increased their price target on shares of Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Weiss Ratings upgraded Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 17th. Wall Street Zen raised Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $39.00 price objective on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Finally, Zacks Research downgraded shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.11.

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Harmony Biosciences in the second quarter worth $258,583,000. Dimensional Fund Advisors LP lifted its holdings in Harmony Biosciences by 13.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company’s stock worth $58,157,000 after purchasing an additional 245,784 shares during the period. SG Americas Securities LLC grew its position in Harmony Biosciences by 109.9% in the 1st quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock valued at $56,529,000 after buying an additional 1,056,507 shares in the last quarter. LSV Asset Management grew its position in Harmony Biosciences by 3.9% in the 4th quarter. LSV Asset Management now owns 1,657,093 shares of the company’s stock valued at $62,008,000 after buying an additional 62,200 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Harmony Biosciences by 0.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,077,371 shares of the company’s stock valued at $30,177,000 after buying an additional 6,900 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

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.