Harmony Biosciences (NASDAQ:HRMY) Releases Earnings Results, Beats Estimates By $0.34 EPS

Harmony Biosciences (NASDAQ:HRMY) posted its quarterly earnings results on Tuesday. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.34, Briefing.com reports. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The business had revenue of $201.30 million during the quarter, compared to the consensus estimate of $201.25 million. During the same quarter last year, the firm posted $0.45 EPS. Harmony Biosciences’s revenue was up 19.5% compared to the same quarter last year.

Harmony Biosciences Stock Down 1.1 %

Shares of NASDAQ:HRMY opened at $34.18 on Tuesday. The company has a market capitalization of $1.95 billion, a PE ratio of 16.20, a price-to-earnings-growth 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 debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The business has a fifty day moving average price of $36.59 and a two-hundred day moving average price of $35.81.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on HRMY shares. Mizuho reduced their price objective on shares of Harmony Biosciences from $52.00 to $42.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of Harmony Biosciences in a research note on Wednesday, February 19th. Cantor Fitzgerald increased their price objective on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They set a “buy” rating and a $55.00 target price on the stock. Finally, Oppenheimer reissued an “outperform” rating and issued a $59.00 price target (up from $56.00) on shares of Harmony Biosciences in a research report on Wednesday, October 30th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $53.67.

Insider Buying and Selling

In other Harmony Biosciences news, CFO Sandip Kapadia sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.18, for a total value of $1,004,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Dierks sold 10,507 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $37.01, for a total value of $388,864.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,452 shares of company stock valued at $2,831,679. 30.80% of the stock is owned by 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.