Key Points
- Insider selling: Kumar Budur sold 35,852 Harmony Biosciences shares for approximately $1.54 million at an average price of $43.05, reducing his direct ownership by 73.22% to 13,115 shares.
- Strong quarterly results: Harmony reported earnings of $1.28 per share, surpassing the $0.96 consensus estimate, while revenue rose 30.3% year over year to $261.28 million.
- Mixed analyst outlook: Analysts’ consensus rating is “Hold,” with an average price target of $47.11; ratings include five Buys, five Holds, and one Sell.
Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) insider Kumar Budur sold 800 shares of the company's stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $43.00, for a total value of $34,400.00. Following the completion of the sale, the insider owned 13,115 shares of the company's stock, valued at $563,945. This trade represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Kumar Budur also recently made the following trade(s):
- On Wednesday, September 16th, Kumar Budur sold 1,800 shares of Harmony Biosciences stock. The shares were sold at an average price of $43.01, for a total value of $77,418.00.
- 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 value 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 value 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 Trading Down 1.7%
Shares of Harmony Biosciences stock opened at $42.02 on Friday. 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 firm has a market cap of $2.45 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 0.40 and a beta of 0.93. The business has a fifty day simple moving average of $38.57 and a 200-day simple moving average of $33.74. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $43.49.
Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results 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. The business had revenue of $261.28 million during 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 company's quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share. On average, equities analysts forecast that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on HRMY shares. Wall Street Zen upgraded shares of Harmony Biosciences from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 16th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $39.00 target price on shares of Harmony Biosciences in a report on Wednesday, August 5th. Wolfe Research started coverage on shares of Harmony Biosciences in a report on Wednesday, August 26th. They set an "outperform" rating and a $60.00 target price for the company. Mizuho lifted their price target on shares of Harmony Biosciences from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Finally, Zacks Research downgraded Harmony Biosciences from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $47.11.
View Our Latest Stock Analysis on HRMY
Institutional Investors Weigh In On Harmony Biosciences
Several hedge funds have recently made changes to their positions in HRMY. EverSource Wealth Advisors LLC boosted its stake in Harmony Biosciences by 589.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company's stock worth $28,000 after purchasing an additional 643 shares during the period. Leonteq Securities AG acquired a new stake in Harmony Biosciences during the 4th quarter valued at $30,000. Allworth Financial LP raised its stake in Harmony Biosciences by 286.7% during the 4th quarter. Allworth Financial LP now owns 812 shares of the company's stock valued at $30,000 after purchasing an additional 602 shares during the period. Nykredit A S purchased a new stake in shares of Harmony Biosciences in the second quarter valued at $33,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of Harmony Biosciences by 145.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company's stock valued at $44,000 after purchasing an additional 699 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.
About Harmony Biosciences
(
Get Free Report)
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.
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