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

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

Insider Activity

In other news, insider Jeffrey Dierks sold 13,125 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $37.31, for a total transaction of $489,693.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandip Kapadia sold 1,775 shares of the company’s 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 valued at $619,167. Insiders own 23.60% of the company’s stock.

Hedge Funds Weigh In On Harmony Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of HRMY. Financial Management Professionals Inc. purchased a new position in Harmony Biosciences during the first quarter valued at approximately $29,000. GAMMA Investing LLC grew its holdings in shares of Harmony Biosciences by 92.6% during the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock valued at $31,000 after acquiring an additional 436 shares in the last quarter. Mendota Financial Group LLC increased its stake in shares of Harmony Biosciences by 24,125.0% in the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after acquiring an additional 965 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Harmony Biosciences in the fourth quarter worth $41,000. Finally, KBC Group NV raised its holdings in shares of Harmony Biosciences by 79.9% during the fourth quarter. KBC Group NV now owns 1,844 shares of the company’s stock worth $63,000 after acquiring an additional 819 shares in the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HRMY. 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 price target for the company. HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Harmony Biosciences in a report on Tuesday, April 8th. Finally, Mizuho lifted their target price on Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, March 18th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Harmony Biosciences currently has a consensus rating of “Buy” and an average target price of $53.33.

Harmony Biosciences Trading Up 1.4 %

Shares of HRMY traded up $0.41 during midday trading on Tuesday, hitting $28.91. The stock had a trading volume of 74,023 shares, compared to its average volume of 572,944. Harmony Biosciences has a fifty-two week low of $26.47 and a fifty-two week high of $41.61. The business has a 50-day simple moving average of $32.74 and a two-hundred day simple moving average of $34.41. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.66 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80.

Harmony Biosciences (NASDAQ:HRMY) last released 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 return on equity of 23.16% and a net margin of 17.98%. The company had revenue of $201.30 million during the quarter, compared to analyst estimates of $201.25 million. During the same quarter in the prior year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, equities analysts forecast that Harmony Biosciences will post 2.43 EPS for the current year.

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.