Harmony Biosciences (NASDAQ:HRMY) Insider Kumar Budur Sells 5,500 Shares of Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Kumar Budur sold 5,500 shares of the 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. The trade was a 22.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 transaction of $1,222,383.84.

Harmony Biosciences Trading Down 1.1%

Shares of HRMY opened at $41.62 on Thursday. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $43.49. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.39 and a beta of 0.93. The firm has a 50 day moving average price of $37.96 and a 200-day moving average price of $33.11. 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 released its 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 company had revenue of $261.28 million for the quarter, compared to analyst estimates of $250.77 million. Harmony Biosciences had a net margin of 18.88% and a return on equity of 20.06%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. As a group, equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current year.

Institutional Trading of Harmony Biosciences

A number of institutional investors have recently modified their holdings of the company. Chase Investment Counsel Corp purchased a new stake in Harmony Biosciences in the second quarter worth $1,820,000. Aurora Investment Counsel bought a new position in Harmony Biosciences in the second quarter worth $2,372,000. Sanctuary Advisors LLC purchased a new position in Harmony Biosciences during the first quarter valued at $1,030,000. Deutsche Bank AG purchased a new position in Harmony Biosciences during the second quarter valued at $3,700,000. Finally, Virtus Advisers LLC bought a new stake in shares of Harmony Biosciences during the 2nd quarter valued at $1,065,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HRMY shares. Truist Financial increased their target price on Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Harmony Biosciences in a research note on Tuesday, August 4th. UBS Group reiterated a “neutral” rating and issued a $37.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Zacks Research lowered Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Needham & Company LLC raised their target price on shares of Harmony Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.11.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial?stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.