Harmony Biosciences (NASDAQ:HRMY) Releases Earnings Results, Beats Expectations By $0.07 EPS

Harmony Biosciences (NASDAQ:HRMY) released its earnings results on Tuesday. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07, Yahoo Finance reports. Harmony Biosciences had a net margin of 22.30% and a return on equity of 28.26%. The firm had revenue of $154.62 million during the quarter, compared to analyst estimates of $154.10 million. During the same quarter in the previous year, the business earned $0.48 EPS. The business’s revenue was up 29.8% on a year-over-year basis. Harmony Biosciences updated its FY 2024 guidance to EPS.

Harmony Biosciences Trading Up 0.6 %

NASDAQ:HRMY traded up $0.17 on Thursday, hitting $30.44. 24,024 shares of the stock were exchanged, compared to its average volume of 392,182. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 0.43 and a beta of 0.75. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.72 and a current ratio of 3.11. Harmony Biosciences has a 52 week low of $18.61 and a 52 week high of $39.26. The company’s 50-day moving average price is $31.18 and its 200 day moving average price is $30.02.

Analysts Set New Price Targets

Several brokerages have commented on HRMY. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $49.00 price target on shares of Harmony Biosciences in a research report on Friday, April 12th. The Goldman Sachs Group lifted their price target on shares of Harmony Biosciences from $25.00 to $28.00 and gave the stock a “sell” rating in a research note on Tuesday, January 9th. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday. Finally, Mizuho decreased their price target on Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Harmony Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $40.63.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 11,979 shares of Harmony Biosciences stock in a transaction on Friday, March 15th. The shares were sold at an average price of $32.00, for a total transaction of $383,328.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 30.80% of the stock is owned by corporate 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.