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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) saw a large growth in short interest in February. As of February 27th, there was short interest totaling 7,948,986 shares, a growth of 47.0% from the February 12th total of 5,407,171 shares. Based on an average daily volume of 1,829,054 shares, the short-interest ratio is currently 4.3 days. Approximately 18.0% of the company’s stock are short sold. Approximately 18.0% of the company’s stock are short sold. Based on an average daily volume of 1,829,054 shares, the short-interest ratio is currently 4.3 days.

Wall Street Analyst Weigh In

HRMY has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Harmony Biosciences from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research note on Monday, February 23rd. Wall Street Zen downgraded shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Truist Financial lowered shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research note on Monday, February 23rd. Bank of America lowered their target price on shares of Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 25th. Finally, Oppenheimer restated an “outperform” rating and set a $62.00 target price on shares of Harmony Biosciences in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $42.67.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY traded down $0.18 during trading on Friday, reaching $27.61. The stock had a trading volume of 478,785 shares, compared to its average volume of 1,340,085. The stock has a fifty day simple moving average of $34.09 and a two-hundred day simple moving average of $33.47. The company has a quick ratio of 3.58, a current ratio of 3.60 and a debt-to-equity ratio of 0.17. Harmony Biosciences has a 52 week low of $25.52 and a 52 week high of $40.87. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 0.38 and a beta of 0.88.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.46). The firm had revenue of $243.78 million for the quarter, compared to the consensus estimate of $240.04 million. Harmony Biosciences had a return on equity of 19.86% and a net margin of 18.29%.Harmony Biosciences’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. As a group, analysts anticipate that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Sandip Kapadia sold 3,746 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $37.15, for a total value of $139,163.90. Following the completion of the sale, the chief financial officer owned 24,521 shares of the company’s stock, valued at approximately $910,955.15. The trade was a 13.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 23.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Harmony Biosciences

A number of institutional investors have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. boosted its stake in Harmony Biosciences by 0.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 47,085 shares of the company’s stock valued at $1,762,000 after purchasing an additional 298 shares during the period. Thrivent Financial for Lutherans increased its position in Harmony Biosciences by 1.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,639 shares of the company’s stock worth $789,000 after buying an additional 348 shares during the period. Nebula Research & Development LLC lifted its holdings in shares of Harmony Biosciences by 2.0% during the second quarter. Nebula Research & Development LLC now owns 17,403 shares of the company’s stock worth $550,000 after buying an additional 348 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Harmony Biosciences by 3.8% during the third quarter. Amalgamated Bank now owns 11,328 shares of the company’s stock worth $312,000 after buying an additional 417 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Harmony Biosciences by 12.0% in the second quarter. Ameritas Investment Partners Inc. now owns 4,466 shares of the company’s stock valued at $141,000 after acquiring an additional 479 shares during the period. 86.23% of the stock is currently owned by institutional investors.

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.