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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) was the recipient of a large 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. Based on an average daily volume of 734,692 shares, the days-to-cover ratio is presently 8.2 days. Approximately 13.6% of the shares of the stock are short sold. Approximately 13.6% of the shares of the stock are short sold. Based on an average daily volume of 734,692 shares, the days-to-cover ratio is presently 8.2 days.

Insiders Place Their Bets

In other news, CFO Sandip Kapadia sold 20,961 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $35.92, for a total transaction of $752,919.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey M. Dayno sold 25,933 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $40.11, for a total transaction of $1,040,172.63. The disclosure for this sale is available in the SEC filing. In the last three months, insiders 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 hedge funds and other institutional investors have recently modified their holdings of the business. Amundi lifted its position in shares of Harmony Biosciences by 115.6% during the 1st quarter. Amundi now owns 39,668 shares of the company’s stock worth $1,229,000 after buying an additional 21,266 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Harmony Biosciences by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock worth $752,000 after acquiring an additional 984 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Harmony Biosciences in the 1st quarter valued at approximately $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Harmony Biosciences by 53.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company’s stock valued at $3,166,000 after purchasing an additional 33,058 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of Harmony Biosciences by 8.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 22,897 shares of the company’s stock valued at $722,000 after purchasing an additional 1,724 shares during the last quarter. Institutional investors own 86.23% of the company’s stock.

Analysts Set New Price Targets

HRMY has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Harmony Biosciences in a report on Monday, December 29th. UBS Group reduced their price objective on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Wall Street Zen upgraded Harmony Biosciences from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Mizuho lifted their price target on Harmony Biosciences from $39.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, December 1st. Finally, Truist Financial decreased their price objective on Harmony Biosciences from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $45.25.

Harmony Biosciences Price Performance

HRMY stock traded down $0.34 during midday trading on Friday, reaching $36.52. The company had a trading volume of 444,831 shares, compared to its average volume of 625,224. Harmony Biosciences has a 1-year low of $25.52 and a 1-year high of $40.87. The stock has a 50 day moving average price of $37.41 and a 200-day moving average price of $34.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.75 and a quick ratio of 3.72. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 0.34 and a beta of 0.84.

Harmony Biosciences (NASDAQ:HRMY) last released 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 firm had revenue of $239.46 million during the quarter, compared to the consensus estimate of $222.68 million. Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. Equities research analysts expect that Harmony Biosciences will post 2.43 earnings per share for the current year.

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.