Harmony Biosciences (NASDAQ:HRMY) Shares Down 3.2% – Should You Sell?

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)’s share price was down 3.2% during trading on Monday . The company 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.

Analysts Set New Price Targets

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

Harmony Biosciences Stock Down 2.5 %

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 stock’s 50-day moving average price is $36.31 and its 200-day moving average price is $35.55. The company has a market cap of $1.91 billion, a P/E ratio of 15.80, a PEG ratio of 0.47 and a beta of 0.82.

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

Insiders Place Their Bets

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 19,293 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total value of $774,228.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Dierks sold 1,123 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total value of $44,920.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,452 shares of company stock valued at $2,831,679. Insiders own 30.80% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

Large investors have recently modified their holdings of the business. Citigroup Inc. grew its stake in Harmony Biosciences by 9.8% in the 3rd 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 raised its stake in shares of Harmony Biosciences by 364.0% during 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 during the period. JPMorgan Chase & Co. lifted its holdings in Harmony Biosciences by 68.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock worth $9,217,000 after purchasing an additional 93,622 shares in the last quarter. Barclays PLC boosted its stake in Harmony Biosciences by 110.9% in the 3rd quarter. Barclays PLC now owns 76,862 shares of the company’s stock worth $3,074,000 after purchasing an additional 40,416 shares during the period. Finally, Amundi grew its holdings in Harmony Biosciences by 243.3% during the 4th quarter. Amundi now owns 18,402 shares of the company’s stock valued at $635,000 after buying an additional 13,041 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.