5 Most Undervalued Biotech Stocks To Buy According To Hedge Funds

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

Number of Hedge Fund Holders: 29

PE Ratio as of February 29: 15.62

Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) is a pharmaceutical company based in Pennsylvania, that specializes in the development and commercialization of therapies for rare neurological diseases in the United States. Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) is one of the most undervalued stocks. 

On February 20, Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) obtained orphan drug designation from the FDA for its drug pitolisant in treating Prader-Willi syndrome (PWS). The biotech company intends to initiate a Phase 3 registrational study in Q1 focusing on excessive daytime sleepiness and behavioral disturbances in PWS patients aged six years and older.

According to Insider Monkey’s fourth quarter database, 29 hedge funds were long Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY), compared to 24 funds in the prior quarter. Vivo Capital is the leading stakeholder of the company, with 2.60 million shares worth over $84 million. 

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