Jeffrey M. Dayno Sells 19,293 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) CEO Jeffrey M. Dayno sold 19,293 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total value of $774,228.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $38.01 on Friday. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 0.51 and a beta of 0.78. The business’s 50 day moving average is $34.86 and its two-hundred day moving average is $35.11. Harmony Biosciences Holdings, Inc. has a 12-month low of $28.14 and a 12-month high of $41.61. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data 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. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. Harmony Biosciences’s quarterly revenue was up 16.0% on a year-over-year basis. Research analysts expect that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Institutional Trading of Harmony Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in HRMY. Citigroup Inc. increased its holdings in Harmony Biosciences by 9.8% in the third quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock valued at $7,114,000 after buying an additional 15,859 shares in the last quarter. HighTower Advisors LLC increased its stake in Harmony Biosciences by 364.0% in the 3rd quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock valued at $3,199,000 after purchasing an additional 62,729 shares in the last quarter. Quest Partners LLC raised its holdings in Harmony Biosciences by 137.6% during the third quarter. Quest Partners LLC now owns 35,723 shares of the company’s stock worth $1,429,000 after purchasing an additional 20,689 shares during the last quarter. Marshall Wace LLP boosted its position in Harmony Biosciences by 145.4% during the second quarter. Marshall Wace LLP now owns 305,612 shares of the company’s stock worth $9,220,000 after purchasing an additional 181,092 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Harmony Biosciences by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock valued at $9,217,000 after purchasing an additional 93,622 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Oppenheimer reissued an “outperform” rating and issued a $59.00 price objective (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a research report on Monday, January 13th. Cantor Fitzgerald upped their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Raymond James reissued an “outperform” rating and set a $40.00 price target on shares of Harmony Biosciences in a report on Thursday, October 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of Harmony Biosciences in a research note on Thursday, January 16th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price 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.