Short Interest in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Declines By 15.1%

by · The Markets Daily

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY – Get Free Report) saw a significant 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. Based on an average daily volume of 683,500 shares, the short-interest ratio is currently 5.1 days. Currently, 8.0% of the shares of the stock are short sold.

Harmony Biosciences Stock Performance

NASDAQ HRMY opened at $29.18 on Wednesday. The stock has a 50-day simple moving average of $32.54 and a two-hundred day simple moving average of $34.37. 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 firm has a market capitalization of $1.67 billion, a P/E ratio of 13.83, a PEG ratio of 0.47 and a beta of 0.80. Harmony Biosciences has a fifty-two week low of $26.47 and a fifty-two week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY – Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $201.30 million during the quarter, compared to analysts’ expectations 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 earned $0.45 earnings per share. On average, equities analysts forecast that Harmony Biosciences will post 2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Report on HRMY

Insider Buying and Selling

In related news, insider Jeffrey Dierks sold 1,629 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $38.02, for a total transaction of $61,934.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandip Kapadia sold 1,775 shares of Harmony Biosciences stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $38.05, for a total transaction of $67,538.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,529 shares of company stock worth $619,167. Insiders own 23.60% of the company’s stock.

Institutional Investors Weigh In On Harmony Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Harmony Biosciences by 1.9% during the 4th quarter. FMR LLC now owns 5,329,902 shares of the company’s stock worth $183,402,000 after purchasing an additional 101,182 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Harmony Biosciences by 36.4% in the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock valued at $162,883,000 after purchasing an additional 1,262,362 shares during the period. Pacer Advisors Inc. grew its stake in shares of Harmony Biosciences by 18.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock valued at $78,452,000 after buying an additional 351,582 shares during the period. Deep Track Capital LP acquired a new stake in Harmony Biosciences during the fourth quarter worth $49,894,000. Finally, Dimensional Fund Advisors LP raised its holdings in Harmony Biosciences by 15.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company’s stock valued at $41,739,000 after buying an additional 160,490 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Harmony Biosciences Company Profile

(Get Free Report)

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.

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