Jeffrey Dierks, Chief Commercial Officer of Harmony Biosciences Holdings , Inc. (NASDAQ:HRMY), reported the sale of 10,507 shares of common stock on January 15, 2025. The shares were sold at an average price of $37.00 to $37.08, totaling approximately $388,840. According to InvestingPro data, HRMY currently trades at $38.54, with analysts maintaining a bullish outlook and a consensus recommendation of 1.75 (Strong Buy). This transaction was executed under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks.
In addition to the sale, Dierks also exercised stock options to acquire 10,507 shares at a price of $33.44 per share, totaling $351,354. Following these transactions, Dierks no longer holds any shares from this particular batch.
In other recent news, Harmony (JO:HARJ) Biosciences reported a favorable fourth quarter in 2024, with sales reaching $201 million, surpassing both Oppenheimer's estimate of $192.5 million and the consensus on Wall Street of $198.6 million. These results were driven by an increase in patients using its drug, Wakix, contributing to a net revenue of approximately $714 million for the full year. Following these results, Oppenheimer maintained an Outperform rating for Harmony Biosciences and raised its price target to $61.
The company anticipates continued growth in 2025, forecasting net revenues of between $820 to $860 million, exceeding previous estimates from Oppenheimer and Wall Street. This optimistic outlook is supported by advancements in Harmony Biosciences' pipeline, particularly in its idiopathic hypersomnia (IH) treatments, orexin-2 agonist, and new formulations of pitolisant.
Harmony Biosciences also reported strong Q3 momentum in 2024, with Wakix net revenue reaching $186 million and total cumulative sales surpassing $2 billion since its launch. The company maintains a robust financial position, holding a cash balance of approximately $505 million. Despite preparing for upcoming IP litigation, Harmony Biosciences remains confident in the strength and validity of its patents.
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