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 company’s stock in a transaction that occurred 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 document filed with the SEC, which is available through this link.

Harmony Biosciences Stock Performance

HRMY opened at $38.01 on Friday. The business’s 50 day moving average is $34.86 and its 200-day moving average is $35.11. The stock has a market cap of $2.17 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 0.51 and a beta of 0.78. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a twelve month low of $28.14 and a twelve month high of $41.61.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Mizuho boosted their target price on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Raymond James reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Harmony Biosciences in a research report on Thursday, October 10th. HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of Harmony Biosciences in a report on Thursday, January 16th. Oppenheimer restated an “outperform” rating and issued a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald lifted their target price on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Harmony Biosciences presently has an average rating of “Buy” and a consensus target price of $55.00.

Institutional Investors Weigh In On Harmony Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its holdings in Harmony Biosciences by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 12,093 shares of the company’s stock worth $416,000 after purchasing an additional 1,162 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Harmony Biosciences by 18.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock worth $78,452,000 after purchasing an additional 351,582 shares in the last quarter. KBC Group NV raised its holdings in Harmony Biosciences by 79.9% during the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after purchasing an additional 819 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Harmony Biosciences by 9.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 17,445 shares of the company’s stock worth $600,000 after buying an additional 1,550 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Harmony Biosciences by 43.1% in the fourth quarter. SG Americas Securities LLC now owns 22,498 shares of the company’s stock worth $774,000 after buying an additional 6,774 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

About Harmony Biosciences

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.