Insider Selling: Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) CEO Sells 19,293 Shares of Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) CEO Jeffrey M. Dayno sold 19,293 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total value of $774,228.09. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Harmony Biosciences Trading Down 1.7 %

HRMY stock traded down $0.65 during trading on Thursday, hitting $38.01. 961,233 shares of the company traded hands, compared to its average volume of 581,495. The firm has a market capitalization of $2.17 billion, a PE ratio of 18.01, a P/E/G ratio of 0.53 and a beta of 0.78. Harmony Biosciences Holdings, Inc. has a 1 year low of $28.14 and a 1 year high of $41.61. The company has a 50-day moving average of $34.66 and a 200-day moving average of $35.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.15. The company had revenue of $186.00 million during the quarter, compared to analysts’ expectations of $184.07 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. Harmony Biosciences’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 EPS. Analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HRMY shares. Raymond James restated an “outperform” rating and issued a $40.00 target price on shares of Harmony Biosciences in a research note on Thursday, October 10th. Mizuho upped their target price on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Cantor Fitzgerald upped their target price on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and issued a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Finally, HC Wainwright reiterated a “buy” rating and issued a $75.00 price objective on shares of Harmony Biosciences in a report on Thursday, January 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Harmony Biosciences currently has an average rating of “Buy” and an average target price of $55.00.

Institutional Investors Weigh In On Harmony Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. grew its position in shares of Harmony Biosciences by 18.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock worth $78,452,000 after buying an additional 351,582 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Harmony Biosciences by 13.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 956,785 shares of the company’s stock worth $28,871,000 after buying an additional 112,197 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Harmony Biosciences by 27.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock worth $26,416,000 after buying an additional 140,690 shares during the last quarter. Millennium Management LLC grew its position in shares of Harmony Biosciences by 51.6% in the 2nd quarter. Millennium Management LLC now owns 307,420 shares of the company’s stock worth $9,275,000 after buying an additional 104,691 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of Harmony Biosciences by 145.4% in the 2nd quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock worth $9,220,000 after buying an additional 181,092 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.