Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Short Interest Update

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 3,490,000 shares, a decline of 15.1% from the March 15th total of 4,110,000 shares. Currently, 8.0% of the company’s stock are sold short. Based on an average daily volume of 683,500 shares, the days-to-cover ratio is presently 5.1 days.

Insiders Place Their Bets

In related news, CFO Sandip Kapadia sold 25,000 shares of Harmony Biosciences stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey M. Dayno sold 19,293 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.13, for a total transaction of $774,228.09. The disclosure for this sale can be found here. Insiders have sold 61,945 shares of company stock worth $2,442,815 in the last three months. 23.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Harmony Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC raised its stake in Harmony Biosciences by 110.9% during the 3rd quarter. Barclays PLC now owns 76,862 shares of the company’s stock valued at $3,074,000 after acquiring an additional 40,416 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Harmony Biosciences by 6.1% during the third quarter. Franklin Resources Inc. now owns 29,773 shares of the company’s stock valued at $1,191,000 after purchasing an additional 1,720 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Harmony Biosciences by 68.4% in the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock worth $9,217,000 after purchasing an additional 93,622 shares during the period. GAMMA Investing LLC grew its position in Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after buying an additional 436 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its stake in Harmony Biosciences by 27.0% during the 4th quarter. CWA Asset Management Group LLC now owns 18,279 shares of the company’s stock valued at $629,000 after buying an additional 3,883 shares during the period. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Harmony Biosciences Stock Performance

HRMY stock opened at $28.46 on Monday. The stock’s fifty day moving average is $32.92 and its two-hundred day moving average is $34.45. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.47 and a beta of 0.80. 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 has a 1 year low of $26.47 and a 1 year high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $201.30 million during the quarter, compared to analyst estimates of $201.25 million. During the same period in the previous year, the business posted $0.45 EPS. Harmony Biosciences’s revenue was up 19.5% on a year-over-year basis. On average, research analysts predict that Harmony Biosciences will post 2.43 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.