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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Kumar Budur sold 28,454 shares of the company’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 value of $1,222,383.84. Following the completion of the transaction, the insider 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 transaction was disclosed in a legal filing with the SEC, which can be accessed 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 value of $230,890.00.

Harmony Biosciences Price Performance

HRMY stock opened at $41.10 on Friday. The business has a fifty day moving average of $38.04 and a two-hundred day moving average of $33.19. The company has a quick ratio of 3.45, a current ratio of 3.48 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 0.39 and a beta of 0.93. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $43.49.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly 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 business 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 company’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.92 EPS. As a group, research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 3.77 earnings per share for the current year.

Institutional Investors Weigh In On Harmony Biosciences

A number of hedge funds have recently added to or reduced their stakes in HRMY. BlackRock Inc. acquired a new position in shares of Harmony Biosciences in the second quarter worth $258,583,000. Dimensional Fund Advisors LP boosted its holdings in Harmony Biosciences by 13.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,076,510 shares of the company’s stock valued at $58,157,000 after purchasing an additional 245,784 shares during the period. California State Teachers Retirement System grew its stake in Harmony Biosciences by 3,455.0% during the 2nd quarter. California State Teachers Retirement System now owns 2,059,313 shares of the company’s stock worth $74,980,000 after purchasing an additional 2,001,385 shares in the last quarter. SG Americas Securities LLC grew its stake in Harmony Biosciences by 109.9% during the 1st quarter. SG Americas Securities LLC now owns 2,018,174 shares of the company’s stock worth $56,529,000 after purchasing an additional 1,056,507 shares in the last quarter. Finally, State Street Corp increased its holdings in Harmony Biosciences by 0.5% during the 4th quarter. State Street Corp now owns 1,661,850 shares of the company’s stock worth $62,186,000 after purchasing an additional 8,246 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $55.00 target price on shares of Harmony Biosciences in a research note on Thursday, July 16th. Zacks Research downgraded shares of Harmony Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Mizuho upped their price objective on shares of Harmony Biosciences from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. UBS Group reiterated a “neutral” rating and issued a $37.00 target price on shares of Harmony Biosciences in a report on Wednesday, August 5th. Finally, Truist Financial boosted their target price on Harmony Biosciences from $29.00 to $34.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Harmony Biosciences currently has an average rating of “Hold” and a consensus price target of $47.11.

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.