Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Short Interest Down 18.7% in October

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 6,060,000 shares, a decrease of 18.7% from the October 15th total of 7,450,000 shares. Approximately 15.2% of the company’s shares are short sold. Based on an average trading volume of 683,700 shares, the short-interest ratio is presently 8.9 days.

Harmony Biosciences Trading Up 0.7 %

HRMY opened at $33.22 on Friday. The stock has a market capitalization of $1.89 billion, a PE ratio of 15.74, a P/E/G ratio of 0.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. Harmony Biosciences has a 12-month low of $24.70 and a 12-month high of $41.61. The firm’s fifty day moving average price is $35.98 and its 200 day moving average price is $33.47.

Harmony Biosciences (NASDAQ:HRMY) last issued its earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.15. The business had revenue of $186.00 million for the quarter, compared to analyst estimates of $184.07 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS. As a group, research analysts expect that Harmony Biosciences will post 2.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HRMY shares. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, October 29th. UBS Group started coverage on Harmony Biosciences in a research report on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target on the stock. Cantor Fitzgerald increased their price objective on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and set a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Finally, Mizuho lifted their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Insider Transactions at Harmony Biosciences

In related news, insider Jeffrey Dierks sold 21,496 shares of Harmony Biosciences stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 30.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its position in shares of Harmony Biosciences by 9.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 29,974 shares of the company’s stock valued at $1,007,000 after acquiring an additional 2,465 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of Harmony Biosciences by 1.8% in the 1st quarter. Texas Permanent School Fund Corp now owns 28,706 shares of the company’s stock worth $964,000 after buying an additional 517 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Harmony Biosciences by 17.6% in the 1st quarter. Russell Investments Group Ltd. now owns 33,981 shares of the company’s stock valued at $1,141,000 after buying an additional 5,082 shares during the period. ProShare Advisors LLC grew its position in shares of Harmony Biosciences by 7.0% during the 1st quarter. ProShare Advisors LLC now owns 10,488 shares of the company’s stock valued at $352,000 after buying an additional 684 shares during the last quarter. Finally, Capital Management Corp VA acquired a new stake in Harmony Biosciences during the first quarter worth about $7,018,000. 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.