Short Interest in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Declines By 6.0%

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) was the target of a large 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 daily volume of 750,400 shares, the short-interest ratio is presently 7.3 days. Currently, 13.5% of the company’s shares are short sold.

Harmony Biosciences Stock Performance

Shares of HRMY opened at $33.24 on Tuesday. Harmony Biosciences has a 12 month low of $28.14 and a 12 month high of $41.61. The stock has a 50 day moving average of $34.32 and a 200 day moving average of $34.02. 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 company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.60 and a beta of 0.79.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HRMY shares. Cantor Fitzgerald lifted their target price on shares of Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Raymond James reiterated an “outperform” rating and set a $40.00 target price on shares of Harmony Biosciences in a research report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Mizuho lifted their price target on Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, UBS Group began coverage on Harmony Biosciences in a research note on Tuesday, September 10th. They issued a “buy” rating and a $56.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.80.

Insider Buying and Selling

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 30.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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