Harmony Biosciences (NASDAQ:HRMY) Announces Earnings Results, Beats Estimates By $0.15 EPS

Harmony Biosciences (NASDAQ:HRMY) released its earnings results on Tuesday. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.15, Briefing.com reports. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company had revenue of $186.00 million during the quarter, compared to the consensus estimate of $184.07 million. During the same period in the previous year, the company posted $0.63 EPS. Harmony Biosciences’s revenue was up 16.0% compared to the same quarter last year. Harmony Biosciences updated its FY 2024 guidance to EPS.

Harmony Biosciences Stock Up 5.4 %

Shares of HRMY traded up $1.72 during mid-day trading on Friday, reaching $33.85. The company’s stock had a trading volume of 2,647,587 shares, compared to its average volume of 455,005. The company’s 50 day moving average is $36.36 and its 200 day moving average is $33.10. The stock has a market cap of $1.93 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 0.67 and a beta of 0.73. Harmony Biosciences has a 12-month low of $22.89 and a 12-month high of $41.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.09.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $52.00 target price on shares of Harmony Biosciences in a report on Tuesday. Cantor Fitzgerald increased their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday. Oppenheimer reiterated an “outperform” rating and issued a $59.00 target price (up from $56.00) on shares of Harmony Biosciences in a report on Wednesday. Mizuho upped their price target on Harmony Biosciences from $42.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Finally, Raymond James reiterated an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Insider Buying and Selling

In other Harmony Biosciences news, insider Jeffrey Dierks sold 21,496 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which is available at this hyperlink. 30.80% of the stock is owned by company insiders.

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.