Harmony Biosciences (NASDAQ:HRMY) Insider Kumar Budur Sells 1,800 Shares of Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Kumar Budur sold 1,800 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $43.01, for a total transaction of $77,418.00. Following the sale, the insider directly owned 13,115 shares of the company’s stock, valued at approximately $564,076.15. The trade was a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 transaction of $34,400.00.
• On Friday, September 18th, Kumar Budur sold 35,852 shares of Harmony Biosciences stock. The shares were sold at an average price of $43.05, for a total transaction 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 transaction of $230,890.00.
• 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 value of $1,222,383.84.

Harmony Biosciences Stock Performance

Shares of HRMY opened at $42.02 on Friday. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.45 billion, a PE ratio of 13.64, a P/E/G ratio of 0.40 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 stock has a fifty day moving average price of $38.57 and a 200-day moving average price of $33.74.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (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 return on equity of 20.06% and a net margin of 18.88%.The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.92 EPS. Equities research analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on HRMY. Weiss Ratings raised shares of Harmony Biosciences from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 17th. Oppenheimer reiterated an “outperform” rating and set a $70.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, August 4th. Mizuho boosted their price objective on shares of Harmony Biosciences from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Needham & Company LLC upped their target price on Harmony Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Zacks Research cut Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Five 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, the stock currently has an average rating of “Hold” and a consensus target price of $47.11.

Institutional Trading of Harmony Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new position in Harmony Biosciences during the second quarter valued at $65,000. IFP Advisors Inc lifted its holdings 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 buying an additional 353 shares during the period. Baird Financial Group Inc. purchased a new stake in shares of Harmony Biosciences in the second quarter worth about $205,000. Allworth Financial LP grew its holdings in Harmony Biosciences by 141.3% during the second quarter. Allworth Financial LP now owns 1,945 shares of the company’s stock worth $71,000 after acquiring an additional 1,139 shares during the period. Finally, Arizona State Retirement System grew its holdings in Harmony Biosciences by 11.1% during the second 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 period. Institutional investors and hedge funds own 86.23% of the company’s stock.

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.