Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Short Interest Update

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

Harmony Biosciences Price Performance

Shares of NASDAQ:HRMY traded down $0.28 on Wednesday, reaching $28.90. The company's stock had a trading volume of 662,203 shares, compared to its average volume of 577,567. Harmony Biosciences has a 52-week low of $26.47 and a 52-week high of $41.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.20 and a current ratio of 3.24. The company has a 50-day simple moving average of $32.34 and a 200 day simple moving average of $34.33. The company has a market cap of $1.66 billion, a P/E ratio of 13.70, a PEG ratio of 0.47 and a beta of 0.80.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $201.30 million for the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. Harmony Biosciences's quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the business posted $0.45 EPS. As a group, equities research analysts anticipate that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jeffrey Dierks sold 13,125 shares of Harmony Biosciences stock in a transaction on Friday, January 24th. The stock was sold at an average price of $37.31, for a total value of $489,693.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandip Kapadia sold 1,775 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $38.05, for a total transaction of $67,538.75. The disclosure for this sale can be found here. Insiders have sold 16,529 shares of company stock worth $619,167 in the last ninety days. Insiders own 23.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deep Track Capital LP purchased a new stake in shares of Harmony Biosciences in the fourth quarter valued at approximately $49,894,000. Vanguard Group Inc. raised its position in Harmony Biosciences by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 4,733,609 shares of the company's stock valued at $162,883,000 after purchasing an additional 1,262,362 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Harmony Biosciences by 165.2% during the fourth quarter. Marshall Wace LLP now owns 929,744 shares of the company's stock worth $31,992,000 after purchasing an additional 579,103 shares in the last quarter. Norges Bank purchased a new stake in Harmony Biosciences in the fourth quarter valued at $16,118,000. Finally, Pacer Advisors Inc. grew 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 acquiring an additional 351,582 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company's stock.

Wall Street Analyst Weigh In

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

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.