Insider Selling: Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Insider Sells 1,629 Shares of Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) insider Jeffrey Dierks sold 1,629 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $38.02, for a total transaction of $61,934.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Jeffrey Dierks also recently made the following trade(s):

• On Friday, January 24th, Jeffrey Dierks sold 13,125 shares of Harmony Biosciences stock. The shares were sold at an average price of $37.31, for a total value of $489,693.75.
• On Tuesday, January 21st, Jeffrey Dierks sold 1,123 shares of Harmony Biosciences stock. The stock was sold at an average price of $40.00, for a total value of $44,920.00.
• On Wednesday, January 15th, Jeffrey Dierks sold 10,507 shares of Harmony Biosciences stock. The shares were sold at an average price of $37.01, for a total value of $388,864.07.

Harmony Biosciences Stock Up 0.4 %

Shares of HRMY traded up $0.17 during mid-day trading on Tuesday, hitting $38.42. 519,661 shares of the company’s stock were exchanged, compared to its average volume of 579,787. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 0.51 and a beta of 0.78. The firm has a fifty day moving average of $34.86 and a two-hundred day moving average of $35.12. The company has a quick ratio of 3.20, a current ratio of 3.24 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 announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, sell-side analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Institutional Investors Weigh In On Harmony Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in HRMY. GAMMA Investing LLC grew its holdings in Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after purchasing an additional 436 shares during the last quarter. Mendota Financial Group LLC boosted its holdings in shares of Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after buying an additional 965 shares during the period. CWM LLC raised its holdings in Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock worth $59,000 after acquiring an additional 775 shares during the period. Quarry LP bought a new position in Harmony Biosciences in the 2nd quarter worth $62,000. Finally, KBC Group NV lifted its position in Harmony Biosciences by 79.9% during the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after acquiring an additional 819 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on HRMY. Cantor Fitzgerald upped 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. Mizuho increased their target price on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Oppenheimer reiterated an “outperform” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Raymond James reiterated an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a research note on Thursday, October 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Harmony Biosciences in a report on Monday, January 13th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $55.00.

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.