Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) Short Interest Up 47.0% in February

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) was the target of a significant growth in short interest in February. As of February 27th, there was short interest totaling 7,948,986 shares, a growth of 47.0% from the February 12th total of 5,407,171 shares. Based on an average trading volume of 1,829,054 shares, the short-interest ratio is currently 4.3 days. Currently, 18.0% of the shares of the stock are short sold. Currently, 18.0% of the shares of the stock are short sold. Based on an average trading volume of 1,829,054 shares, the short-interest ratio is currently 4.3 days.

Insider Buying and Selling at Harmony Biosciences

In other news, CFO Sandip Kapadia sold 20,961 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $35.92, for a total value of $752,919.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 23.60% of the stock is currently owned by company insiders.

Institutional Trading of Harmony Biosciences

A number of large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Harmony Biosciences by 589.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 752 shares of the company’s stock valued at $28,000 after acquiring an additional 643 shares during the last quarter. Leonteq Securities AG bought a new stake in Harmony Biosciences during the fourth quarter worth approximately $30,000. Allworth Financial LP raised its position in Harmony Biosciences by 286.7% during the fourth quarter. Allworth Financial LP now owns 812 shares of the company’s stock valued at $30,000 after purchasing an additional 602 shares during the period. Clearstead Advisors LLC raised its position in Harmony Biosciences by 145.9% during the fourth quarter. Clearstead Advisors LLC now owns 1,178 shares of the company’s stock valued at $44,000 after purchasing an additional 699 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of Harmony Biosciences in the 4th quarter valued at approximately $47,000. 86.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HRMY. Truist Financial cut Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Monday, February 23rd. Needham & Company LLC cut their price objective on shares of Harmony Biosciences from $46.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Harmony Biosciences in a research report on Monday, December 29th. Bank of America lowered their target price on shares of Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating on the stock in a report on Wednesday, February 25th. Finally, Wall Street Zen lowered shares of Harmony Biosciences from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Harmony Biosciences presently has an average rating of “Hold” and a consensus target price of $42.67.

Harmony Biosciences Stock Down 0.6%

NASDAQ HRMY opened at $27.61 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.58 and a current ratio of 3.60. The company has a market capitalization of $1.60 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.38 and a beta of 0.88. Harmony Biosciences has a one year low of $25.52 and a one year high of $40.87. The stock has a 50 day moving average price of $34.09 and a 200-day moving average price of $33.44.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.46). The business had revenue of $243.78 million during the quarter, compared to the consensus estimate of $240.04 million. Harmony Biosciences had a return on equity of 19.86% and a net margin of 18.29%.The company’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 EPS. As a group, equities analysts predict that Harmony Biosciences will post 2.43 EPS for the current fiscal year.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial‐stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.