Short Interest in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Rises By 32.5%

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 3,380,000 shares, an increase of 32.5% from the May 15th total of 2,550,000 shares. Currently, 7.8% of the shares of the stock are sold short. Based on an average daily volume of 701,400 shares, the days-to-cover ratio is currently 4.8 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HRMY shares. Needham & Company LLC reiterated a "buy" rating and set a $49.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, May 6th. Oppenheimer assumed coverage on shares of Harmony Biosciences in a research report on Monday, June 2nd. They set an "outperform" rating and a $61.00 price target on the stock. HC Wainwright restated a "buy" rating and issued a $70.00 target price on shares of Harmony Biosciences in a research report on Tuesday, April 8th. Mizuho increased their target price on shares of Harmony Biosciences from $44.00 to $48.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, UBS Group dropped their target price on shares of Harmony Biosciences from $55.00 to $48.00 and set a "buy" rating for the company in a report on Monday, April 28th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $53.00.

Institutional Trading of Harmony Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC raised its holdings in shares of Harmony Biosciences by 1.9% in the fourth quarter. FMR LLC now owns 5,329,902 shares of the company's stock valued at $183,402,000 after buying an additional 101,182 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Harmony Biosciences by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock worth $162,883,000 after buying an additional 1,262,362 shares during the last quarter. Deep Track Capital LP acquired a new position in Harmony Biosciences in the 4th quarter valued at about $49,894,000. American Century Companies Inc. raised its stake in Harmony Biosciences by 16.9% during the 1st quarter. American Century Companies Inc. now owns 1,288,787 shares of the company's stock valued at $42,775,000 after acquiring an additional 186,183 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Harmony Biosciences by 15.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,213,029 shares of the company's stock worth $41,739,000 after acquiring an additional 160,490 shares during the period. Hedge funds and other institutional investors own 86.23% of the company's stock.

Harmony Biosciences Stock Down 1.8%

NASDAQ HRMY traded down $0.59 during trading on Friday, reaching $31.89. 662,452 shares of the company's stock were exchanged, compared to its average volume of 628,036. The company has a 50 day moving average price of $32.54 and a two-hundred day moving average price of $34.00. The stock has a market cap of $1.83 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 0.48 and a beta of 0.87. Harmony Biosciences has a 1 year low of $26.47 and a 1 year high of $41.61. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.63 and a current ratio of 3.67.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.59 by $0.19. Harmony Biosciences had a net margin of 20.53% and a return on equity of 24.32%. The firm had revenue of $184.73 million for the quarter, compared to analyst estimates of $184.26 million. During the same period last year, the business earned $0.67 EPS. Harmony Biosciences's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities research analysts anticipate 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.