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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 5,450,000 shares, a drop of 6.0% from the November 15th total of 5,800,000 shares. Based on an average trading volume of 750,400 shares, the short-interest ratio is presently 7.3 days. Approximately 13.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HRMY. UBS Group initiated coverage on shares of Harmony Biosciences in a report on Tuesday, September 10th. They issued a “buy” rating and a $56.00 target price for the company. Cantor Fitzgerald increased their price target on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Mizuho upped their price target on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Oppenheimer reaffirmed an “outperform” rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Finally, Raymond James reiterated an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $49.80.

Harmony Biosciences Stock Performance

Shares of HRMY stock traded up $0.81 during trading hours on Tuesday, reaching $33.87. The stock had a trading volume of 120,553 shares, compared to its average volume of 475,076. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The firm has a 50-day simple moving average of $34.29 and a 200-day simple moving average of $34.05. The firm has a market capitalization of $1.93 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 0.60 and a beta of 0.79. Harmony Biosciences has a twelve month low of $28.14 and a twelve month high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The firm had revenue of $186.00 million for the quarter, compared to analysts’ expectations of $184.07 million. During the same quarter last year, the business posted $0.63 EPS. Harmony Biosciences’s revenue was up 16.0% on a year-over-year basis. As a group, equities analysts forecast that Harmony Biosciences will post 2.36 earnings per share for the current year.

Insider Transactions at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 21,496 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 30.80% of the company’s stock.

Institutional Trading of Harmony Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. nVerses Capital LLC bought a new stake in shares of Harmony Biosciences in the 2nd quarter valued at approximately $36,000. CWM LLC lifted its stake in shares of Harmony Biosciences by 111.7% in the 3rd quarter. CWM LLC now owns 1,469 shares of the company’s stock valued at $59,000 after purchasing an additional 775 shares during the last quarter. Quarry LP acquired a new position in Harmony Biosciences during the second quarter worth $62,000. Quantbot Technologies LP acquired a new stake in shares of Harmony Biosciences in the third quarter worth about $74,000. Finally, Headlands Technologies LLC raised its stake in shares of Harmony Biosciences by 1,608.1% in the 2nd quarter. Headlands Technologies LLC now owns 2,545 shares of the company’s stock valued at $77,000 after acquiring an additional 2,396 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

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.