5 Biotech Stocks With The Biggest Upside

3. Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Number of Hedge Fund Holders: 27    

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) is a commercial-stage pharmaceutical company that develops and commercializes therapies for patients with rare neurological disorders in the United States. In early November, the company posted positive topline results from phase 2 data related to Wakix (pitolisant), a drug approved for daytime sleepiness in those with narcolepsy. The results found that the daytime sleepiness drug may be effective for patients with Prader-Willi syndrome.

On November 8, Mizuho analyst Graig Suvannavejh maintained a Buy rating on Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) stock and raised the price target to $70 from $60, highlighting that the company reported positive third-quarter results.

At the end of the third quarter of 2022, 27 hedge funds in the database of Insider Monkey held stakes worth $338.7 million in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY), compared to 20 in the previous quarter worth $402.7 million.