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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) was the recipient 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. Currently, 13.5% of the shares of the company are sold short. Based on an average daily trading volume, of 750,400 shares, the days-to-cover ratio is currently 7.3 days.

Harmony Biosciences Trading Up 2.5 %

HRMY stock traded up $0.81 during trading on Tuesday, hitting $33.87. The company had a trading volume of 120,553 shares, compared to its average volume of 475,076. The firm has a 50-day moving average price of $34.29 and a 200-day moving average price of $34.05. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 0.60 and a beta of 0.79. Harmony Biosciences has a 12 month low of $28.14 and a 12 month high of $41.61. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28.

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

Insider Buying and Selling at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences stock in a transaction dated Tuesday, October 29th. The stock was 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 SEC, which is available through the SEC website. Insiders own 30.80% of the company’s stock.

Institutional Trading of Harmony Biosciences

Several hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its holdings in Harmony Biosciences by 6.1% during the third quarter. Franklin Resources Inc. now owns 29,773 shares of the company’s stock worth $1,191,000 after purchasing an additional 1,720 shares during the last quarter. Barclays PLC lifted its stake in Harmony Biosciences by 110.9% in the third quarter. Barclays PLC now owns 76,862 shares of the company’s stock valued at $3,074,000 after acquiring an additional 40,416 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Harmony Biosciences in the third quarter valued at $280,000. XTX Topco Ltd bought a new position in shares of Harmony Biosciences in the 3rd quarter valued at about $451,000. Finally, HighTower Advisors LLC increased its stake in shares of Harmony Biosciences by 364.0% during the 3rd quarter. HighTower Advisors LLC now owns 79,961 shares of the company’s stock worth $3,199,000 after purchasing an additional 62,729 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HRMY has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, October 29th. Oppenheimer restated an “outperform” rating and issued a $59.00 price objective (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. UBS Group began coverage on shares of Harmony Biosciences in a research report on Tuesday, September 10th. They set a “buy” rating and a $56.00 target price on the stock. Mizuho increased their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Raymond James reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Harmony Biosciences in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Harmony Biosciences has an average rating of “Moderate Buy” and a consensus price target of $49.80.

About Harmony Biosciences

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.