Harmony Biosciences (NASDAQ:HRMY) Reaches New 12-Month Low - Should You Sell?

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $26.50 and last traded at $28.03, with a volume of 576 shares traded. The stock had previously closed at $29.26.

Analysts Set New Price Targets

HRMY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price target on shares of Harmony Biosciences in a research note on Tuesday. Mizuho raised their price objective on shares of Harmony Biosciences from $42.00 to $44.00 and gave the company an "outperform" rating in a research note on Tuesday, March 18th. Finally, HC Wainwright restated a "buy" rating and set a $70.00 target price on shares of Harmony Biosciences in a research report on Tuesday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $53.33.

Harmony Biosciences Trading Up 0.6 %

The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 0.47 and a beta of 0.80. The business has a fifty day simple moving average of $33.89 and a 200 day simple moving average of $34.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its earnings results 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 net margin of 17.98% and a return on equity of 23.16%. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Insider Activity at Harmony Biosciences

In related news, CFO Sandip Kapadia sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total value of $1,004,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Dierks sold 10,507 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $37.01, for a total value of $388,864.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,452 shares of company stock worth $2,831,679. 30.80% of the stock is currently owned by insiders.

Institutional Trading of Harmony Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC increased its position in shares of Harmony Biosciences by 364.0% in the third quarter. HighTower Advisors LLC now owns 79,961 shares of the company's stock worth $3,199,000 after acquiring an additional 62,729 shares in the last quarter. JPMorgan Chase & Co. raised its position 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 period. Swiss National Bank lifted its stake in shares of Harmony Biosciences by 28.2% during the fourth quarter. Swiss National Bank now owns 78,200 shares of the company's stock worth $2,691,000 after purchasing an additional 17,200 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Harmony Biosciences by 50.6% in the fourth quarter. Teacher Retirement System of Texas now owns 11,801 shares of the company's stock worth $406,000 after buying an additional 3,964 shares during the period. Finally, Barclays PLC grew its stake in shares of Harmony Biosciences by 110.9% in the third quarter. Barclays PLC now owns 76,862 shares of the company's stock valued at $3,074,000 after buying an additional 40,416 shares in the last quarter. Institutional investors and hedge funds 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.