Harmony Biosciences (NASDAQ:HRMY) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Harmony Biosciences (NASDAQ:HRMY) announced its earnings results on Tuesday. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07, Yahoo Finance reports. Harmony Biosciences had a return on equity of 27.49% and a net margin of 22.16%. The business had revenue of $154.62 million during the quarter, compared to analyst estimates of $154.10 million. During the same period last year, the company earned $0.48 EPS. Harmony Biosciences’s revenue for the quarter was up 29.8% compared to the same quarter last year. Harmony Biosciences updated its FY 2024 guidance to EPS.

Harmony Biosciences Stock Down 0.9 %

Harmony Biosciences stock traded down $0.27 during midday trading on Wednesday, reaching $30.64. The stock had a trading volume of 295,082 shares, compared to its average volume of 390,438. Harmony Biosciences has a 12 month low of $18.61 and a 12 month high of $39.26. The company has a market capitalization of $1.74 billion, a P/E ratio of 14.39, a PEG ratio of 0.41 and a beta of 0.73. The company has a fifty day moving average price of $31.24 and a two-hundred day moving average price of $30.01. The company has a current ratio of 2.75, a quick ratio of 2.72 and a debt-to-equity ratio of 0.38.

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 11,979 shares of Harmony Biosciences stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $32.00, for a total transaction of $383,328.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 30.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on HRMY. Mizuho lowered their price objective on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Bank of America reissued an “underperform” rating and issued a $30.00 price objective on shares of Harmony Biosciences in a research report on Tuesday, January 2nd. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Harmony Biosciences in a research report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $49.00 price objective on shares of Harmony Biosciences in a research report on Friday, April 12th. Finally, The Goldman Sachs Group lifted their price objective on Harmony Biosciences from $25.00 to $28.00 and gave the stock a “sell” rating in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.63.

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.