Harmony Biosciences Executive Sells More Than $383,000 in Stock, According to Investing.com

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Harmony Biosciences Executive Sells More Than 3,000 in Stock, According to Investing.com

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PLYMOUTH MEETING, PA – Jeffrey Dierks, Chief Commercial Officer of Harmony Biosciences Holdings Inc. (NASDAQ:), sold 11,979 shares of the company’s common stock on March 15, 2024, for a total value of approximately $383,328, at prices ranging from $32.00 to $32.06 per share, according to a recent filing with the SEC.

The transactions were conducted under a predefined 10b5-1 trading plan, which allows company insiders to establish a predetermined plan to buy or sell shares at a time when they are not in possession of material non-public information. The sales took place through a series of transactions and Dierks agreed to provide additional details on per-share prices upon request.

On the same date, Dierks also acquired 11,979 shares of Harmony Biosciences common stock at a price of $8.22 per share, for a total of $98,467. These shares were not part of the sale and represent a separate transaction.

In addition to the common stock transactions, Dierks exercised options on 2,335 shares and another set of options on 9,644 shares of Harmony Biosciences. Both sets of stock options had a strike price of $8.22 per share. At the end of these operations, Dierks no longer holds shares from the first option exercise and retains 4,869 shares from the second. Stock options vest in five equal annual installments, the first beginning October 1, 2019 and the second beginning March 1, 2021.

Harmony Biosciences Holdings, Inc. specializes in pharmaceutical preparations and is based in Plymouth Meeting, Pennsylvania. The company’s business telephone is (484) 539-9800.

InvestingPro Insights

As Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) navigates the market, recent activities from insiders such as Jeffrey Dierks may be of interest to investors. While insider transactions aren’t always indicative of company performance, they can provide insight into how those closest to the company view its prospects.

InvestingPro data highlights a strong financial position for Harmony Biosciences, with a 32.93% growth in turnover over the last twelve months from the fourth quarter of 2023, and a Gross margin of 79.17% indicating efficient operations. The company’s strong performance is also evidenced by an operating margin of 32.99%demonstrating effective management and profitability potential.

One of the InvestingPro tips suggests that management was actively involved in share buybacks, which could demonstrate confidence in the value and future of the company. Additionally, Harmony Biosciences operates with a moderate level of debt, which can be an encouraging sign for investors looking for a potentially stable investment. It’s also worth noting that analysts predict the company will be profitable this year, which is consistent with the company’s recent financial achievements.

For those interested in digging deeper into Harmony Biosciences’ financials and future prospects, InvestingPro offers additional guidance and metrics. There is currently 7 more InvestPro Advice available, accessible at https://www.investing.com/pro/HRMY. To enrich your investment strategy with this comprehensive analysis, use the promo code PRONEWS24 for an additional 10% off an annual or biannual Pro and Pro+ subscription.

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