Sandip Kapadia Sells 20,961 Shares of Harmony Biosciences (NASDAQ:HRMY) Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) CFO Sandip Kapadia sold 20,961 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $35.92, for a total transaction of $752,919.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Harmony Biosciences Price Performance

Shares of HRMY stock traded down $0.31 during mid-day trading on Tuesday, hitting $35.91. The company had a trading volume of 719,898 shares, compared to its average volume of 525,630. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.75 and a quick ratio of 3.72. The stock’s 50 day moving average price is $36.92 and its 200-day moving average price is $34.09. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $40.93. The company has a market capitalization of $2.07 billion, a P/E ratio of 11.29, a P/E/G ratio of 0.38 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The company had revenue of $239.46 million during the quarter, compared to the consensus estimate of $222.68 million. Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. Equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Institutional Trading of Harmony Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position in Harmony Biosciences by 4,102.4% in the fourth quarter. SG Americas Securities LLC now owns 961,667 shares of the company’s stock worth $35,986,000 after buying an additional 938,783 shares during the last quarter. Boston Partners bought a new position in Harmony Biosciences during the second quarter valued at $19,398,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Harmony Biosciences by 127.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company’s stock valued at $28,658,000 after acquiring an additional 508,498 shares during the period. UBS Group AG lifted its holdings in shares of Harmony Biosciences by 213.3% in the 3rd quarter. UBS Group AG now owns 503,081 shares of the company’s stock worth $13,865,000 after acquiring an additional 342,505 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its holdings in shares of Harmony Biosciences by 382.3% in the 2nd quarter. Nomura Holdings Inc. now owns 422,919 shares of the company’s stock worth $13,364,000 after acquiring an additional 335,237 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HRMY shares. Mizuho boosted their target price on Harmony Biosciences from $39.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, December 1st. Oppenheimer reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Harmony Biosciences in a report on Monday, November 24th. HC Wainwright reissued a “buy” rating on shares of Harmony Biosciences in a report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. Finally, UBS Group lowered their price objective on shares of Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $45.25.

Harmony Biosciences Company Profile

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.