Sandip Kapadia Sells 3,746 Shares of Harmony Biosciences (NASDAQ:HRMY) Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) CFO Sandip Kapadia sold 3,746 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $37.15, for a total value of $139,163.90. Following the completion of the sale, the chief financial officer owned 24,521 shares of the company’s stock, valued at $910,955.15. The trade was a 13.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Sandip Kapadia also recently made the following trade(s):

• On Thursday, January 15th, Sandip Kapadia sold 20,961 shares of Harmony Biosciences stock. The stock was sold at an average price of $35.92, for a total transaction of $752,919.12.

Harmony Biosciences Price Performance

Shares of HRMY opened at $36.86 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.72 and a current ratio of 3.75. The company has a 50 day moving average price of $37.37 and a 200-day moving average price of $34.25. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $40.87. The stock has a market capitalization of $2.12 billion, a PE ratio of 11.59, a PEG ratio of 0.34 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). The company had revenue of $239.46 million for the quarter, compared to analysts’ expectations of $222.68 million. Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%. Equities analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in shares of Harmony Biosciences by 4,102.4% during the fourth quarter. SG Americas Securities LLC now owns 961,667 shares of the company’s stock valued at $35,986,000 after acquiring an additional 938,783 shares during the last quarter. Boston Partners purchased a new stake in shares of Harmony Biosciences during the second quarter worth approximately $19,398,000. Arrowstreet Capital Limited Partnership raised its stake in Harmony Biosciences by 127.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company’s stock valued at $28,658,000 after purchasing an additional 508,498 shares during the last quarter. UBS Group AG lifted its holdings in Harmony Biosciences by 213.3% in the 3rd quarter. UBS Group AG now owns 503,081 shares of the company’s stock valued at $13,865,000 after purchasing an additional 342,505 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its stake in Harmony Biosciences by 382.3% during the 2nd quarter. Nomura Holdings Inc. now owns 422,919 shares of the company’s stock worth $13,364,000 after purchasing an additional 335,237 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. UBS Group dropped their price target on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. Truist Financial dropped their target price on Harmony Biosciences from $48.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Needham & Company LLC reissued a “buy” rating and set a $42.00 price target on shares of Harmony Biosciences in a research report on Monday, November 24th. Weiss Ratings restated a “hold (c)” rating on shares of Harmony Biosciences in a research note on Monday, December 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of Harmony Biosciences in a report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $45.25.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.