Short Interest in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Increases By 37.6%

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 5,990,113 shares, an increase of 37.6% from the December 31st total of 4,354,263 shares. Approximately 13.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 734,692 shares, the days-to-cover ratio is currently 8.2 days. Based on an average daily trading volume, of 734,692 shares, the days-to-cover ratio is currently 8.2 days. Approximately 13.6% of the shares of the stock are sold short.

Harmony Biosciences Stock Down 0.9%

NASDAQ:HRMY traded down $0.34 on Friday, hitting $36.52. The stock had a trading volume of 444,831 shares, compared to its average volume of 625,224. The company has a quick ratio of 3.72, a current ratio of 3.75 and a debt-to-equity ratio of 0.18. Harmony Biosciences has a 52 week low of $25.52 and a 52 week high of $40.87. The business’s fifty day moving average is $37.41 and its 200 day moving average is $34.26. The company has a market cap of $2.10 billion, a PE ratio of 11.48, a P/E/G ratio of 0.34 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY) last posted its earnings results on Tuesday, November 4th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). The business had revenue of $239.46 million for the quarter, compared to the consensus estimate of $222.68 million. Harmony Biosciences had a return on equity of 24.88% and a net margin of 22.50%. On average, equities research analysts expect that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HRMY. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Harmony Biosciences in a research note on Monday, December 29th. Zacks Research raised Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price target on shares of Harmony Biosciences in a research report on Monday, November 24th. Truist Financial lowered their price objective on Harmony Biosciences from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Wall Street Zen raised Harmony Biosciences from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $45.25.

Insiders Place Their Bets

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 25,933 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $40.11, for a total value of $1,040,172.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandip Kapadia sold 3,746 shares of Harmony Biosciences stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $37.15, for a total value of $139,163.90. Following the sale, the chief financial officer directly owned 24,521 shares in the company, valued at $910,955.15. The trade was a 13.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 50,640 shares of company stock worth $1,932,256. Insiders own 23.60% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

Several institutional investors have recently added to or reduced their stakes in HRMY. Comerica Bank raised its position in Harmony Biosciences by 206.1% in the fourth quarter. Comerica Bank now owns 36,497 shares of the company’s stock worth $1,366,000 after acquiring an additional 24,573 shares during the period. Ruffer LLP purchased a new stake in shares of Harmony Biosciences during the 4th quarter worth approximately $1,536,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Harmony Biosciences by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,799 shares of the company’s stock worth $105,000 after purchasing an additional 575 shares during the period. CWM LLC lifted its stake in Harmony Biosciences by 245.9% in the fourth quarter. CWM LLC now owns 25,951 shares of the company’s stock valued at $971,000 after purchasing an additional 18,449 shares during the last quarter. Finally, Prairiewood Capital LLC bought a new position in Harmony Biosciences during the fourth quarter valued at $232,000. Institutional investors own 86.23% of the company’s stock.

About Harmony Biosciences

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.