Harmony Biosciences (NASDAQ:HRMY) Insider Kumar Budur Sells 28,454 Shares of Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Kumar Budur sold 28,454 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $42.96, for a total transaction of $1,222,383.84. Following the completion of the sale, the insider directly owned 13,115 shares in the company, valued at $563,420.40. This represents a 68.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 transaction of $230,890.00.

Harmony Biosciences Price Performance

Shares of NASDAQ:HRMY traded down $0.45 during trading on Wednesday, reaching $41.62. The company had a trading volume of 1,132,798 shares, compared to its average volume of 846,651. The company has a fifty day moving average of $37.85 and a two-hundred day moving average of $33.06. The stock has a market capitalization of $2.42 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 0.39 and a beta of 0.93. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.52 and a 12 month high of $43.49. 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 (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.28 earnings per share 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 analysts’ expectations of $250.77 million. During the same quarter last year, the company posted $0.92 EPS. The business’s quarterly revenue was up 30.3% on a year-over-year basis. Equities research analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Harmony Biosciences

Several hedge funds have recently added to or reduced their stakes in HRMY. BlackRock Inc. purchased a new stake in Harmony Biosciences during the second quarter valued at about $258,583,000. California State Teachers Retirement System increased its holdings in shares of Harmony Biosciences by 3,455.0% in the second quarter. California State Teachers Retirement System now owns 2,059,313 shares of the company’s stock worth $74,980,000 after buying an additional 2,001,385 shares during the period. SG Americas Securities LLC increased its holdings in shares of Harmony Biosciences by 109.9% in the first quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after buying an additional 1,056,507 shares during the period. Armistice Capital LLC bought a new stake in shares of Harmony Biosciences in the 4th quarter valued at about $18,710,000. Finally, venBio Partners LLC bought a new stake in shares of Harmony Biosciences in the 2nd quarter valued at about $17,192,584. 86.23% of the stock is owned by institutional investors.

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.