Insider Selling: Harmony Biosciences (NASDAQ:HRMY) Insider Sells $34,400.00 in Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Kumar Budur sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $43.00, for a total transaction of $34,400.00. Following the completion of the transaction, the insider directly owned 13,115 shares of the company’s stock, valued at approximately $563,945. This trade represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 stock was 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 shares were sold at an average price of $42.96, for a total value of $1,222,383.84.

Harmony Biosciences Price Performance

Shares of HRMY traded down $0.72 during midday trading on Friday, hitting $42.02. 3,658,124 shares of the company traded hands, compared to its average volume of 869,461. Harmony Biosciences Holdings, Inc. has a one year low of $25.52 and a one year high of $43.49. The firm has a market cap of $2.45 billion, a P/E ratio of 13.64, a PEG ratio of 0.39 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.48 and a quick ratio of 3.45. The stock has a 50-day moving average of $38.46 and a 200-day moving average of $33.68.

Harmony Biosciences (NASDAQ:HRMY) last released its quarterly earnings results 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 during 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 business’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.92 EPS. As a group, sell-side analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Harmony Biosciences

A number of institutional investors have recently made changes to their positions in HRMY. Integrated Wealth Concepts LLC bought a new position in shares of Harmony Biosciences during the second quarter valued at about $65,000. IFP Advisors Inc lifted its stake in shares of Harmony Biosciences by 4.6% in the 2nd quarter. IFP Advisors Inc now owns 8,102 shares of the company’s stock valued at $295,000 after acquiring an additional 353 shares during the last quarter. Baird Financial Group Inc. bought a new stake in shares of Harmony Biosciences in the 2nd quarter valued at about $205,000. Allworth Financial LP boosted its holdings in Harmony Biosciences by 141.3% during the 2nd 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 during the period. Finally, Arizona State Retirement System grew its position in Harmony Biosciences by 11.1% during 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. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HRMY. Mizuho raised their target price on shares of Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Zacks Research lowered shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Truist Financial raised their price objective on shares of Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Wolfe Research assumed coverage on shares of Harmony Biosciences in a report on Wednesday, August 26th. They set an “outperform” rating and a $60.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Harmony Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Five 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. According to data from MarketBeat, Harmony Biosciences presently has an average rating of “Hold” and an average 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.