Harmony Biosciences (NASDAQ:HRMY) Shares Down 4.6% - Time to Sell?

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) shares were down 4.6% during trading on Tuesday . The stock traded as low as $28.29 and last traded at $28.17. Approximately 168,277 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 567,236 shares. The stock had previously closed at $29.53.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HRMY shares. Needham & Company LLC reiterated a "buy" rating and issued a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday, April 8th. HC Wainwright reissued a "buy" rating and set a $70.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Harmony Biosciences in a report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price target on the stock. Finally, Mizuho increased their price objective on Harmony Biosciences from $42.00 to $44.00 and gave the company an "outperform" rating in a report on Tuesday, March 18th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Harmony Biosciences presently has a consensus rating of "Buy" and a consensus price target of $53.33.

Harmony Biosciences Price Performance

The stock has a 50 day moving average of $32.92 and a 200-day moving average of $34.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The company has a market cap of $1.63 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80.

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

Insider Activity

In other Harmony Biosciences news, insider Jeffrey Dierks sold 1,123 shares of Harmony Biosciences stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandip Kapadia sold 25,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total value of $1,004,500.00. The disclosure for this sale can be found here. Insiders have sold 61,945 shares of company stock valued at $2,442,815 in the last ninety days. Insiders own 23.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HRMY. Hillsdale Investment Management Inc. grew its stake in shares of Harmony Biosciences by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 68,000 shares of the company's stock worth $2,340,000 after purchasing an additional 300 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Harmony Biosciences by 2.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,450 shares of the company's stock valued at $704,000 after buying an additional 420 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Harmony Biosciences by 92.6% in the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company's stock worth $31,000 after acquiring an additional 436 shares during the period. Rhumbline Advisers boosted its stake in shares of Harmony Biosciences by 0.4% during the 1st quarter. Rhumbline Advisers now owns 109,073 shares of the company's stock worth $3,620,000 after acquiring an additional 485 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Harmony Biosciences by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock valued at $80,000 after purchasing an additional 519 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.