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

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) was the recipient of a significant drop in short interest in 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. Approximately 8.0% of the company's stock are short sold. Based on an average daily volume of 683,500 shares, the short-interest ratio is currently 5.1 days.

Analysts Set New Price Targets

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

Insider Activity

In other news, CFO Sandip Kapadia sold 1,775 shares of the firm'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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey Dierks sold 1,629 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $38.02, for a total transaction of $61,934.58. The disclosure for this sale can be found here. Insiders own 23.60% of the company's stock.

Hedge Funds Weigh In On Harmony Biosciences

Institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. purchased a new position in Harmony Biosciences in the first quarter valued at $29,000. GAMMA Investing LLC raised its holdings in Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company's stock worth $31,000 after purchasing an additional 436 shares during the period. Mendota Financial Group LLC grew its holdings in Harmony Biosciences by 24,125.0% in the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock valued at $33,000 after purchasing an additional 965 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of Harmony Biosciences in the fourth quarter valued at approximately $41,000. Finally, KBC Group NV lifted its position in shares of Harmony Biosciences by 79.9% during the 4th quarter. KBC Group NV now owns 1,844 shares of the company's stock valued at $63,000 after buying an additional 819 shares in the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Stock Performance

Shares of NASDAQ:HRMY traded up $0.18 during midday trading on Friday, reaching $29.61. The company's stock had a trading volume of 307,935 shares, compared to its average volume of 577,647. The firm has a market capitalization of $1.70 billion, a PE ratio of 14.03, a P/E/G ratio of 0.47 and a beta of 0.80. The stock has a fifty day moving average of $31.96 and a 200 day moving average of $34.26. Harmony Biosciences has a twelve month low of $26.47 and a twelve 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. The business had revenue of $201.30 million during the quarter, compared to analysts' expectations of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company's revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. On average, equities analysts expect that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

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.