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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 3,490,000 shares, a decrease 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 trading volume, of 683,500 shares, the days-to-cover ratio is presently 5.1 days.

Harmony Biosciences Trading Up 1.4 %

Shares of HRMY stock traded up $0.41 during trading hours on Tuesday, hitting $28.91. The company 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 company’s fifty day moving average is $32.74 and its 200 day moving average is $34.41. The stock has a market capitalization of $1.66 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. The company’s revenue was up 19.5% compared to the same quarter last year. Research analysts expect that Harmony Biosciences will post 2.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, April 8th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Finally, Mizuho raised their price objective on Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 18th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $53.33.

Insider Activity

In related news, insider Jeffrey Dierks sold 1,629 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $38.02, for a total value of $61,934.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandip Kapadia sold 1,775 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $38.05, for a total value of $67,538.75. The disclosure for this sale can be found here. Insiders have sold 16,529 shares of company stock valued at $619,167 in the last ninety days. 23.60% of the stock is currently owned by company insiders.

Institutional Trading of Harmony Biosciences

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC increased its holdings in shares of Harmony Biosciences by 1.9% during the 4th quarter. FMR LLC now owns 5,329,902 shares of the company’s stock worth $183,402,000 after buying an additional 101,182 shares during the last quarter. Vanguard Group Inc. raised its holdings in Harmony Biosciences by 36.4% in the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company’s stock valued at $162,883,000 after acquiring an additional 1,262,362 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Harmony Biosciences by 18.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock worth $78,452,000 after purchasing an additional 351,582 shares during the last quarter. Deep Track Capital LP acquired a new position in shares of Harmony Biosciences in the 4th quarter worth approximately $49,894,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Harmony Biosciences by 15.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company’s stock worth $41,739,000 after purchasing an additional 160,490 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.