Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) CEO Sells $898,250.00 in Stock

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) CEO John C. Jacobs sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $35.93, for a total value of $898,250.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Shares of HRMY stock opened at $35.61 on Wednesday. The stock has a 50-day simple moving average of $31.17 and a 200 day simple moving average of $30.67. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.09 and a fifty-two week high of $52.74. The stock has a market capitalization of $2.03 billion and a P/E ratio of 154.83. The company has a quick ratio of 5.46, a current ratio of 5.59 and a debt-to-equity ratio of 1.55.

Harmony Biosciences (NASDAQ:HRMY) last announced its earnings results on Monday, August 9th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.06. Harmony Biosciences had a return on equity of 66.92% and a net margin of 9.86%. The business had revenue of $73.82 million during the quarter, compared to analysts’ expectations of $70.85 million. On average, sell-side analysts anticipate that Harmony Biosciences Holdings, Inc. will post 1.04 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Morgan Stanley lifted its stake in Harmony Biosciences by 101.7% in the 2nd quarter. Morgan Stanley now owns 128,756 shares of the company’s stock worth $3,634,000 after acquiring an additional 64,929 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Harmony Biosciences by 41.4% in the 2nd quarter. Wells Fargo & Company MN now owns 9,761 shares of the company’s stock worth $276,000 after acquiring an additional 2,857 shares in the last quarter. Perceptive Advisors LLC lifted its stake in Harmony Biosciences by 57.6% in the 2nd quarter. Perceptive Advisors LLC now owns 491,332 shares of the company’s stock worth $13,870,000 after acquiring an additional 179,659 shares in the last quarter. Invesco Ltd. purchased a new stake in Harmony Biosciences in the 2nd quarter worth about $213,000. Finally, Metropolitan Life Insurance Co NY purchased a new stake in Harmony Biosciences in the 2nd quarter worth about $202,000. 47.65% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research raised Harmony Biosciences from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Wednesday, August 11th.

Harmony Biosciences Company Profile

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

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