Harmony Biosciences (NASDAQ:HRMY) Shares Down 3.2% – Time to Sell?

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) shares were down 3.2% during trading on Monday . The stock traded as low as $34.65 and last traded at $34.16. Approximately 119,415 shares traded hands during trading, a decline of 77% from the average daily volume of 525,468 shares. The stock had previously closed at $35.28.

Wall Street Analyst Weigh In

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

Harmony Biosciences Stock Performance

The stock’s fifty day simple moving average is $36.42 and its 200-day simple moving average is $35.58. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $1.97 billion, a PE ratio of 16.26, a PEG ratio of 0.47 and a beta of 0.82.

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

Insider Transactions at Harmony Biosciences

In related news, CEO Jeffrey M. Dayno sold 19,293 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total value of $774,228.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey Dierks sold 1,629 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $38.02, for a total transaction of $61,934.58. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock valued at $2,831,679 in the last 90 days. 30.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after purchasing an additional 436 shares in the last quarter. Mendota Financial Group LLC raised its stake in shares of Harmony Biosciences by 24,125.0% in the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock valued at $33,000 after acquiring an additional 965 shares during the period. GF Fund Management CO. LTD. purchased a new stake in Harmony Biosciences during the 4th quarter worth $41,000. KBC Group NV raised its position in Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after purchasing an additional 819 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of Harmony Biosciences during the third quarter worth about $74,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.