Harmony Biosciences (NASDAQ:HRMY) Sets New 52-Week Low – Should You Sell?

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)’s share price hit a new 52-week low on Monday . The stock traded as low as $26.50 and last traded at $28.03, with a volume of 576 shares. The stock had previously closed at $29.26.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on HRMY shares. HC Wainwright reduced their price objective on Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft began coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, February 25th. Finally, Mizuho upped their price target on Harmony Biosciences from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Tuesday, March 18th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $53.33.

Harmony Biosciences Stock Performance

The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.47 and a beta of 0.80. The firm has a 50 day moving average price of $35.30 and a 200-day moving average price of $35.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company had revenue of $201.30 million during the quarter, compared to analysts’ expectations of $201.25 million. During the same quarter in the previous year, the business posted $0.45 EPS. The firm’s revenue was up 19.5% on a year-over-year basis. As a group, sell-side analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 10,507 shares of Harmony Biosciences stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total transaction of $388,864.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sandip Kapadia sold 1,775 shares of Harmony Biosciences stock in a transaction on Monday, January 27th. The shares were sold at an average price of $38.05, for a total transaction of $67,538.75. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock worth $2,831,679 over the last three months. Insiders own 30.80% of the company’s stock.

Institutional Trading of Harmony Biosciences

A number of institutional investors have recently modified their holdings of the business. HighTower Advisors LLC boosted its position in shares of Harmony Biosciences by 364.0% during the 3rd quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock worth $3,199,000 after purchasing an additional 62,729 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Harmony Biosciences in the third quarter valued at $451,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Harmony Biosciences during the 3rd quarter worth $280,000. Barclays PLC boosted its position in shares of Harmony Biosciences by 110.9% in the 3rd quarter. Barclays PLC now owns 76,862 shares of the company’s stock worth $3,074,000 after buying an additional 40,416 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Harmony Biosciences by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 29,773 shares of the company’s stock valued at $1,191,000 after acquiring an additional 1,720 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.