Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Short Interest Down 31.8% in January

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Get Free Report) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 3,770,000 shares, a decline of 31.8% from the January 15th total of 5,530,000 shares. Currently, 9.3% of the shares of the company are sold short. Based on an average daily volume of 540,800 shares, the short-interest ratio is currently 7.0 days.

Analyst Ratings Changes

A number of brokerages have weighed in on HRMY. Needham & Company LLC reiterated a "buy" rating and issued a $52.00 price objective on shares of Harmony Biosciences in a research report on Monday, January 13th. Oppenheimer reaffirmed an "outperform" rating and issued a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Cantor Fitzgerald raised their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They set a "buy" rating and a $55.00 target price for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $75.00 price target on shares of Harmony Biosciences in a research note on Monday, January 27th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Harmony Biosciences currently has an average rating of "Buy" and a consensus price target of $55.00.

Harmony Biosciences Price Performance

HRMY traded up $0.11 on Tuesday, hitting $39.09. 588,371 shares of the company's stock were exchanged, compared to its average volume of 548,338. Harmony Biosciences has a fifty-two week low of $28.14 and a fifty-two week high of $41.61. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 0.51 and a beta of 0.80. The firm has a 50-day moving average price of $36.28 and a 200-day moving average price of $35.71. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28.

Insider Activity at Harmony Biosciences

In other news, insider Jeffrey Dierks sold 1,629 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $38.02, for a total transaction of $61,934.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandip Kapadia sold 25,000 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total transaction of $1,004,500.00. The disclosure for this sale can be found here. Insiders sold 72,452 shares of company stock worth $2,831,679 over the last three months. Company insiders own 30.80% of the company's stock.

Institutional Trading of Harmony Biosciences

Several large investors have recently bought and sold shares of HRMY. GAMMA Investing LLC boosted its holdings in shares of Harmony Biosciences by 92.6% during 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 last quarter. Mendota Financial Group LLC boosted its stake in Harmony Biosciences by 24,125.0% during the fourth quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock worth $33,000 after buying an additional 965 shares during the last quarter. CWM LLC boosted its stake in Harmony Biosciences by 111.7% during the third quarter. CWM LLC now owns 1,469 shares of the company's stock worth $59,000 after buying an additional 775 shares during the last quarter. KBC Group NV grew its holdings in Harmony Biosciences by 79.9% in 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. Finally, Quantbot Technologies LP acquired a new stake in shares of Harmony Biosciences in the 3rd quarter worth $74,000. Hedge funds and other institutional investors own 86.23% of the company's stock.

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.