Key Points
- Sandip Kapadia, Harmony Biosciences' CFO, sold 20,961 shares on Jan. 15 at an average price of $35.92, for roughly $752,919, according to an SEC Form 4 filing.
- The company reported quarterly EPS of $0.87 (missing the $0.92 consensus) while revenue beat at $239.46M; the stock has a market cap of $2.07B and a P/E of 11.29.
- About 86.23% of the stock is held by institutional investors, several large funds increased stakes recently, and analysts have a consensus Moderate Buy rating with an average target of $45.25.
Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) CFO Sandip Kapadia sold 20,961 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $35.92, for a total value of $752,919.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Harmony Biosciences Stock Down 0.9%
NASDAQ HRMY opened at $35.91 on Wednesday. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.52 and a 12 month high of $40.93. The company has a current ratio of 3.75, a quick ratio of 3.72 and a debt-to-equity ratio of 0.18. The stock has a market cap of $2.07 billion, a PE ratio of 11.29, a P/E/G ratio of 0.38 and a beta of 0.84. The stock's 50 day moving average is $36.92 and its 200 day moving average is $34.09.
Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings data 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). Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. The company had revenue of $239.46 million for the quarter, compared to analysts' expectations of $222.68 million. Research analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.
Institutional Investors Weigh In On Harmony Biosciences
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HRMY. Dimensional Fund Advisors LP boosted its holdings in shares of Harmony Biosciences by 6.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,691,581 shares of the company's stock worth $46,620,000 after purchasing an additional 109,405 shares during the period. American Century Companies Inc. lifted its position in Harmony Biosciences by 11.2% in the third quarter. American Century Companies Inc. now owns 1,669,565 shares of the company's stock worth $46,013,000 after buying an additional 168,145 shares during the last quarter. LSV Asset Management boosted its stake in Harmony Biosciences by 7.1% during the third quarter. LSV Asset Management now owns 1,594,893 shares of the company's stock worth $43,955,000 after buying an additional 106,391 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Harmony Biosciences by 42.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,295,381 shares of the company's stock valued at $35,701,000 after acquiring an additional 388,472 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Harmony Biosciences by 36.3% during the second quarter. Marshall Wace LLP now owns 1,209,484 shares of the company's stock valued at $38,220,000 after acquiring an additional 321,947 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have commented on HRMY. Deutsche Bank Aktiengesellschaft decreased 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 note on Thursday, September 25th. Truist Financial reduced their target price on Harmony Biosciences from $48.00 to $45.00 and set a "buy" rating on the stock in a report on Thursday, January 8th. HC Wainwright reiterated a "buy" rating on shares of Harmony Biosciences in a research report on Wednesday, December 3rd. UBS Group dropped their price target on Harmony Biosciences from $50.00 to $43.00 and set a "buy" rating for the company in a research note on Wednesday, October 15th. Finally, Needham & Company LLC restated a "buy" rating and set a $42.00 price target on shares of Harmony Biosciences in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.25.
View Our Latest Research Report on Harmony Biosciences
Harmony Biosciences Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
