Harmony Biosciences (NASDAQ:HRMY) Insider Kumar Budur Sells 800 Shares

Key Points

• Insider selling: Kumar Budur sold 800 Harmony Biosciences shares for $34,400 at an average price of $43.00, reducing his position by 5.75% to 13,115 shares. The article also notes several additional sales in September.
• Stock performance: HRMY shares fell 1.7% to $42.02, despite trading near their 12-month high of $43.49. Institutional investors own approximately 86.23% of the company.
• Business and analyst outlook: Harmony exceeded quarterly earnings and revenue expectations, reporting $1.28 EPS and $261.28 million in revenue, up 30.3% year over year. Analysts’ consensus rating is Hold, with an average price target of $47.11.

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) insider Kumar Budur sold 800 shares of the company's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $43.00, for a total value of $34,400.00. Following the sale, the insider owned 13,115 shares in the company, valued at approximately $563,945. The trade was a 5.75% decrease in their position. The sale was disclosed in a filing 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 stock was sold at an average price of $43.01, for a total transaction 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 stock was 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 transaction of $1,222,383.84.

Harmony Biosciences Stock Down 1.7%

Shares of HRMY traded down $0.72 on Friday, reaching $42.02. The company's stock had a trading volume of 3,658,124 shares, compared to its average volume of 869,461. The company has a current ratio of 3.48, a quick ratio of 3.45 and a debt-to-equity ratio of 0.13. Harmony Biosciences Holdings, Inc. has a twelve month low of $25.52 and a twelve month high of $43.49. The stock has a market capitalization of $2.45 billion, a PE ratio of 13.64, a PEG ratio of 0.39 and a beta of 0.93. The firm has a fifty day moving average of $38.46 and a 200-day moving average of $33.68.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.32. The business had revenue of $261.28 million during the quarter, compared to the consensus estimate 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 previous year, the business earned $0.92 EPS. Equities analysts predict that Harmony Biosciences Holdings, Inc. will post 3.77 EPS for the current year.

Hedge Funds Weigh In On Harmony Biosciences

Several hedge funds have recently modified their holdings of the company. IFP Advisors Inc increased its position in shares of Harmony Biosciences by 4.6% during the second 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 last quarter. Allworth Financial LP lifted its position in shares of 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 buying an additional 602 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Harmony Biosciences by 589.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company's stock valued at $28,000 after buying an additional 643 shares during the last quarter. Clearstead Advisors LLC grew its stake in shares of Harmony Biosciences by 145.9% during the 4th quarter. Clearstead Advisors LLC now owns 1,178 shares of the company's stock worth $44,000 after acquiring an additional 699 shares during the period. Finally, Illinois Municipal Retirement Fund increased its holdings in Harmony Biosciences by 3.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 20,020 shares of the company's stock worth $561,000 after acquiring an additional 727 shares during the last quarter. Institutional investors own 86.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HRMY. Weiss Ratings raised Harmony Biosciences from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 17th. Oppenheimer reissued an "outperform" rating and issued a $70.00 price target on shares of Harmony Biosciences in a research report on Tuesday, August 4th. Wolfe Research initiated coverage on Harmony Biosciences in a research note on Wednesday, August 26th. They set an "outperform" rating and a $60.00 price objective on the stock. Truist Financial lifted their price objective on shares of Harmony Biosciences from $29.00 to $34.00 and gave the stock a "hold" rating in a report on Wednesday, August 5th. Finally, HC Wainwright reiterated a "buy" rating and issued a $55.00 target price on shares of Harmony Biosciences in a research note on Thursday, July 16th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Harmony Biosciences has a consensus rating of "Hold" and a consensus target price of $47.11.

About Harmony Biosciences

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.