Harmony Biosciences (NASDAQ:HRMY) Insider Kumar Budur Sells 35,852 Shares of Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Kumar Budur sold 35,852 shares of the stock in a transaction on Friday, September 18th. The stock was sold at an average price of $43.05, for a total value of $1,543,428.60. Following the completion of the transaction, the insider directly owned 13,115 shares in the company, valued at $564,600.75. This trade represents a 73.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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 value of $77,418.00.
• On Thursday, September 17th, Kumar Budur sold 800 shares of Harmony Biosciences stock. The stock was sold at an average price of $43.00, for a total value 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 value 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%

Shares of NASDAQ:HRMY traded down $0.72 during trading on Friday, reaching $42.02. 3,658,096 shares of the stock were exchanged, compared to its average volume of 869,461. 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 Holdings, Inc. has a 12-month low of $25.52 and a 12-month high of $43.49. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 0.39 and a beta of 0.93. The firm’s 50-day moving average price is $38.46 and its 200 day moving average price is $33.68.

Harmony Biosciences (NASDAQ:HRMY) last posted 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. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The firm had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. During the same quarter last year, the firm posted $0.92 earnings per share. Harmony Biosciences’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

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

Analysts Set New Price Targets

A number of brokerages have recently commented on HRMY. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $39.00 target price on shares of Harmony Biosciences in a research note on Wednesday, August 5th. Wall Street Zen upgraded Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Needham & Company LLC raised their price objective on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Zacks Research cut Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $37.00 target price on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.