Sandip Kapadia Sells 25,000 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) CFO Sandip Kapadia sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total transaction of $1,004,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Harmony Biosciences Price Performance

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

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

Hedge Funds Weigh In On Harmony Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in Harmony Biosciences by 18.2% during the 4th 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 boosted its stake in Harmony Biosciences by 79.9% in the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after purchasing an additional 819 shares during the period. Janney Montgomery Scott LLC increased its holdings in Harmony Biosciences by 9.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 17,445 shares of the company’s stock worth $600,000 after purchasing an additional 1,550 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Harmony Biosciences by 43.1% in the fourth quarter. SG Americas Securities LLC now owns 22,498 shares of the company’s stock valued at $774,000 after purchasing an additional 6,774 shares in the last quarter. Finally, ARS Investment Partners LLC bought a new position in shares of Harmony Biosciences during the 4th quarter worth approximately $841,000. 86.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HRMY shares. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Harmony Biosciences in a research report on Monday, January 13th. Cantor Fitzgerald raised their target price on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Mizuho raised their price objective on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $75.00 target price on shares of Harmony Biosciences in a research report on Thursday, January 16th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $55.00.

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.