Insider Selling: Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Director Sells 24,898 Shares of Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMYGet Rating) Director Jack Nielsen sold 24,898 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $57.08, for a total transaction of $1,421,177.84. Following the completion of the sale, the director now directly owns 2,846,163 shares in the company, valued at $162,458,984.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Jack Nielsen also recently made the following trade(s):

  • On Friday, November 18th, Jack Nielsen sold 20,800 shares of Harmony Biosciences stock. The stock was sold at an average price of $57.00, for a total transaction of $1,185,600.00.
  • On Monday, November 14th, Jack Nielsen sold 58,667 shares of Harmony Biosciences stock. The shares were sold at an average price of $58.70, for a total transaction of $3,443,752.90.

Harmony Biosciences Stock Down 0.8 %

HRMY opened at $57.50 on Thursday. The business has a 50 day moving average price of $50.79 and a 200 day moving average price of $48.49. Harmony Biosciences Holdings, Inc. has a twelve month low of $31.54 and a twelve month high of $61.55. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.52 and a current ratio of 3.56. The firm has a market cap of $3.41 billion, a P/E ratio of 22.46 and a beta of 0.52.

Harmony Biosciences (NASDAQ:HRMYGet Rating) last posted its earnings results on Tuesday, November 1st. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.85. Harmony Biosciences had a return on equity of 62.83% and a net margin of 38.84%. The firm had revenue of $117.21 million during the quarter, compared to analyst estimates of $113.11 million. Research analysts forecast that Harmony Biosciences Holdings, Inc. will post 2.7 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. IFP Advisors Inc lifted its holdings in shares of Harmony Biosciences by 49.8% during the third quarter. IFP Advisors Inc now owns 999 shares of the company’s stock worth $45,000 after buying an additional 332 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Harmony Biosciences by 6.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 7,502 shares of the company’s stock worth $366,000 after buying an additional 437 shares during the last quarter. KBC Group NV lifted its holdings in shares of Harmony Biosciences by 22.9% during the third quarter. KBC Group NV now owns 2,461 shares of the company’s stock worth $109,000 after buying an additional 458 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Harmony Biosciences by 5.7% during the third quarter. ProShare Advisors LLC now owns 8,673 shares of the company’s stock worth $384,000 after buying an additional 467 shares during the last quarter. Finally, Texas Permanent School Fund lifted its holdings in shares of Harmony Biosciences by 3.0% during the second quarter. Texas Permanent School Fund now owns 16,645 shares of the company’s stock worth $812,000 after buying an additional 478 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HRMY. Jefferies Financial Group upgraded shares of Harmony Biosciences from a “hold” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $61.00 in a research note on Friday, October 14th. They noted that the move was a valuation call. Needham & Company LLC boosted their price target on shares of Harmony Biosciences from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 2nd. Raymond James boosted their price target on shares of Harmony Biosciences from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, November 3rd. Janney Montgomery Scott upgraded shares of Harmony Biosciences from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $61.00 in a research note on Friday, October 14th. Finally, TheStreet upgraded shares of Harmony Biosciences from a “c” rating to a “b-” rating in a research note on Thursday, August 18th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Harmony Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $62.50.

About Harmony Biosciences

(Get Rating)

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, develops and commercializes therapies for patients with rare neurological disorders in the United States. Its product, WAKIX is a medication for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.

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