Harmony Biosciences (NASDAQ:HRMY) Issues Earnings Results

Harmony Biosciences (NASDAQ:HRMY) released its quarterly earnings results on Tuesday. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11, Zacks reports. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The company had revenue of $201.30 million during the quarter, compared to analysts’ expectations of $201.25 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year.

Harmony Biosciences Stock Performance

Shares of HRMY stock opened at $37.01 on Wednesday. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 0.47 and a beta of 0.80. Harmony Biosciences has a 1-year low of $28.14 and a 1-year high of $41.61. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The stock’s fifty day simple moving average is $36.59 and its 200-day simple moving average is $35.81.

Insider Buying and Selling

In other news, insider Jeffrey Dierks sold 1,123 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total value of $44,920.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sandip Kapadia sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total transaction of $1,004,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,452 shares of company stock valued at $2,831,679. Corporate insiders own 30.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on HRMY. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Harmony Biosciences in a research report on Tuesday, February 11th. They issued a “buy” rating and a $55.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price objective on shares of Harmony Biosciences in a report on Tuesday. HC Wainwright reissued a “buy” rating and set a $75.00 target price on shares of Harmony Biosciences in a report on Wednesday, February 19th. Oppenheimer reiterated an “outperform” rating and set a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Finally, Mizuho cut their price objective on Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $53.67.

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.