Key Points
- Insider selling: Harmony Biosciences insider Kumar Budur sold 28,454 shares for approximately $1.22 million, reducing his position by 68.45%. He also sold 5,500 shares earlier in September for $230,890.
- Strong quarterly performance: The company reported quarterly EPS of $1.28, beating estimates of $0.96, while revenue rose 30.3% year over year to $261.28 million.
- Mixed analyst outlook: Analysts’ average rating is “Hold,” with an average price target of $47.11 versus the stock’s recent price of $41.62; institutional investors own 86.23% of the shares.
Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) insider Kumar Budur sold 5,500 shares of the business's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $41.98, for a total transaction of $230,890.00. Following the sale, the insider directly owned 18,615 shares in the company, valued at $781,457.70. The trade was a 22.81% decrease in their position. The transaction 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 Tuesday, September 8th, Kumar Budur sold 28,454 shares of Harmony Biosciences stock. The shares were sold at an average price of $42.96, for a total transaction of $1,222,383.84.
Harmony Biosciences Price Performance
Shares of NASDAQ HRMY opened at $41.62 on Thursday. The company has a 50 day simple moving average of $37.96 and a two-hundred day simple moving average of $33.11. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $43.49. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 0.39 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.45 and a current ratio of 3.48.
Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.32. The firm had revenue of $261.28 million for the quarter, compared to analysts' expectations of $250.77 million. Harmony Biosciences had a return on equity of 20.06% and a net margin of 18.88%.The business's revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 EPS. Analysts expect that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.
Analysts Set New Price Targets
HRMY has been the topic of several analyst reports. Truist Financial boosted their target price on Harmony Biosciences from $29.00 to $34.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. HC Wainwright restated a "buy" rating and set a $55.00 price target on shares of Harmony Biosciences in a report on Thursday, July 16th. Mizuho lifted their price target on Harmony Biosciences from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Zacks Research cut shares of Harmony Biosciences from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Finally, UBS Group reissued a "neutral" rating and set a $37.00 price objective on shares of Harmony Biosciences in a research report on Wednesday, August 5th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $47.11.
Get Our Latest Research Report on HRMY
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new stake in Harmony Biosciences in the 2nd quarter worth about $65,000. IFP Advisors Inc lifted its stake in Harmony Biosciences by 4.6% during the 2nd quarter. IFP Advisors Inc now owns 8,102 shares of the company's stock valued at $295,000 after acquiring an additional 353 shares during the period. Baird Financial Group Inc. bought a new position in Harmony Biosciences during the 2nd quarter valued at about $205,000. Allworth Financial LP boosted its holdings in shares of Harmony Biosciences by 141.3% during the 2nd quarter. Allworth Financial LP now owns 1,945 shares of the company's stock valued at $71,000 after acquiring an additional 1,139 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Harmony Biosciences by 11.1% during the 2nd quarter. Arizona State Retirement System now owns 13,167 shares of the company's stock valued at $479,000 after acquiring an additional 1,315 shares during the last quarter. 86.23% of the stock is owned by institutional investors.
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.
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